Per capita incomes across European regions are not equal and do not stay constant; regional income distributions uctuate over time. Such a process could have many possible limiting outcomes: complete equal- ity (convergence), stratication, and continually increasing inequality are but three...

Many cultural products have the same nonrival nature as scientific knowledge. They therefore face identical difficulties in creation and dissemination. One traditional view says market failure is endemic: societies tolerate monopolistic inefficiency in intellectual property (IP) protection to...

Can the increasing significance of knowledge-products in national income - the growing weightless economy - influence economic development? Those technologies reduce ''distance'' between consumers and knowledge production. This paper analyzes a model embodying such a reduction. The model shows...

This paper develops a model of economic growth and activity locating endogenously on a 3- dimensional featureless global geography. The same economic forces influence simultaneously growth, convergence, and spatial agglomeration and clustering. Economic activity is not concentrated on discrete...

This paper attempts to draw lessons for the New Economy from what economists know about technology dissemination and economic growth. It argues that what is most notable about the New Economy is that it is knowledge-driven, not just in the sense that knowledge now assumes increasing importance...

The term “globalisation” has survived its first significant sell-by date in modern times. Rightly, it continues to attract policy attention and debate at the very highest levels. Together with just a handful of others—economic growth and inequality, financial crisis, climate change—with...

Internet development holds the promise of transmitting economic value across physical space at zero marginal cost. In such a “weightless economy”, what factors matter for the location of economic activity and thus for economic development? This paper sketches a model of spatial dynamics over...

This paper reviews the cross-country record of economic growth, using as organizing framework how economic theory has guided that empirical analysis. The paper argues that recent studies of economic growth—both empirical and theoretical—distinguish from previous work in three distinct...

This paper uses a model of growth and imperfect capital mobility across multiple economies to characterize the dynamics of (cross-country) in- come distributions. This allows convenient study of the convergence hypothesis, and reveals, where appropriate, polarization and clumping within...

This paper models uctuations in regional disaggregates as a nonsta- tionary, dynamically evolving distribution. Doing so enables study of the dynamics of aggregate uctuations jointly with those of the rich cross-section of regional disaggregates. For the US, the leading state| regardless of...