This paper investigates whether the inherent non-stationarity of macroeconomic time series is entirely due to a random walk or also to non-linear components. Applying the numerical tools of the analysis of dynamical systems to long time series for the United States, we reject the hypothesis that...

In this paper we present the outlines of an endogenous growth model that focuses on the labour market- and skill-aspects of economic policy measures that may have an impact on technological change, and hence on the long term effectiveness of the policy measures concerned. The link between skills...

The paper studies the contribution of human capital on economic growth through its impact on the rate of innovation by formulating an endogenous growth model that combines elements from Romer (1990), Aghion and Howitt (1992), and van Zon and Yetkiner (2003). Using a relatively broad concept of...

This book takes up the challenge of developing an empirically based foundation for evolutionary economics built upon complex system theory. The authors argue that modern evolutionary economics is at a crossroads. At a theoretical level, modern evolutionary economics is moving away from the...

For a long time economists have tended to ignore health as a relevant factor of production and important determinant of economic growth. The widely observed positive relationship between health expenditures and economic growth was considered the result of a strong positive income effect....

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In this paper, we present a simple endogenous growth model that allows for the occurrence of innovations that can develop into General Purpose Technologies (GPTs), which are the result of basic R&D. The model incorporates the main features of the Romer (1990) model and the Aghion and Howitt...

In this paper, we extend the Romer (1990) model in two ways. First, we include energy consumption of intermediates. Secondly, intermediates become heterogeneous due to endogenous energy saving technical change. However, aggregate effective capital is still subject to endogenous technical change...

This paper deals with the problem of tackling the adverse effect of output growth on environmental quality. For this purpose we use an intermediate sector that builds ‘putty-practically-clay’ capital consisting of an energy-raw capital amalgam used for final goods production. The...

In this paper, the effects of uncertainty and of various policy instruments on the lengthand attractiveness of private research projects are studied. Research expenditure can beregained from quasi-rents that are earned by exploiting patents on the fruits of research.The accumulation of knowledge...