In this paper we develop a theory of scale-invariant endogenous growth. By this we mean a theory capable of generating a balanced growth path where both the growth rate and the level of GDP per capita are independent of the size of population, where population growth is neither necessary nor...

Fertility has been declining on all continents for the last couple of decades and this development is expected to continue in the future. Prevailing innovation-based growth theories imply, as a consequence of scale effects from the size of population, that such demographic changes will lead to a...

According to much of the recent growth literature the dramatic worldwide fertility decline currently taking place should ultimately lead to global economic stagnation. This pessimistic prediction is not shared by the original innovation-based growth literature. However, this strand of literature...

According to much of the recent growth literature, the dramatic worldwide decline in fertility currently taking place should ultimately lead to global economic stagnation. This pessimistic prediction is not shared by the original innovation-based growth literature. In recent years, however, this...

This paper analyses the impact of tax reforms that decrease income tax progression in an equilibrium search model with wage bargaining and endogenous individual working time. The working time is either bargained together with the hourly wage (case 1) or determined solely by workers after...