A comprehensive study of the linkages between demographic and economic variables should not only account for vintage specificity but also incorporate the relevant economic and demographic decisions in a complete optimal control set-up. In this paper, a methodological set-up allowing to reach...

The effects of competition on growth are analyzed in the recent literature by comparing economies with the same market structure but different degrees of substitutability. In this note, we show that in a general equilibrium model with monopolistic competition à la Dixit-Stiglitz the effect of...

Differential equations with advanced and delayed time arguments may arise in the optimality conditions of simple growth models with delays. Models with investment gestation lags (time-to-build), consumption gestation lags (habit formation) or learning by using lie in this category. In this...

A simple dynamic general equilibrium model is set up in which firms face idiosyncratic productivity shocks. Firms whose productivity has fallen too low exit, and entrants try to imitate the best practice of existing firms, so that the expected productivity of entering firms is a function of...

In this paper we analyze the role of replacement and innovation activity in shaping investment behavior and labor productivity in a panel of Spanish manufacturing firms from 1990 to 2001. Investment is concentrated about large investment episodes, or investment spikes, whose nature varies by...

We propose a new theory of the demographic transition based on the evidence that body development during childhood is an important factor for life expectancy. The key and novel mechanism of the model is that parents face a tradeoff between the quantity of children and the childhood development...