Market failures in human capital investment and innovation explain the main features of human development and economic growth. This is shown in a Schumpeterian multi-country model with technology transfer and trade. Thus, only institutions expanding investments in nutrition, education, health,...

Market failures in human capital investment and innovation explain the main features of human development and economic growth. This is shown in a Schumpeterian multi-country model with technology transfer and trade. Thus, only institutions expanding investments in nutrition, education, health,...

Market failures in human capital investment and innovation explain the main features of human development and economic growth. This is shown in a Schumpeterian multi-country model with technology transfer and trade. Thus, only institutions expanding investments in nutrition, education, health,...

The 2008 economic crisis has long-term causes that are rooted in the economic dynamics of globalization. I construct a Solow-style endogenous model of capital accumulation, technological change, trade and cheap-factor-seeking foreign direct investment (FDI), based on myopic agents. Combining...

I evaluate the optimality properties of a two sector market economy consisting of a mass production sector with market power and a competitive sector with small scale production. Adam Smith's results hold: the presence of market power renders production and innovation inefficient, as higher...

Using the ENNViH 2002 survey, a switching model shows that significant differences exist in the formation of infant cognitive ability across Mexican social strata. Public policy variables and local economic characteristics are sufficient to detect an important gradient in cognitive abilities and...

A stochastic frontier model is used to make a comparative estimate of the production of cognitive capacity and stature in the family, using data from the Mexican survey ENNVIH 2002. We find that child cognitive capacity is associated with the economic status of the family, public policy...

Hasta hace tiempo se creía que los contratos de arrendamiento óptimos sujetos a restricción de liquidez ex-post serían sólo de renta fija porque para el terrateniente es óptimo ofrecerle al arrendatario todo el incentivo (la cosecha) para que haga esfuerzo alto y que lo lleve a alta...