This paper presents an endogenous growth model of directed technical change with vertical and horizontal R&D to study an analytical mechanism that is consistent with the coexistence of aggregate stability and structural change. We focus on changes in the share of the high- versus the low-tech...

This paper builds an endogenous growth model of directed technical change with vertical and horizontal R&D and scale effects at the industry level to study an analytical mechanism that is consistent with the observed cross-country pattern in the skill structure, the technology structure and...

Based on an extended model of endogenous directed technical change and on cross-country data, we identify and quantify the long-run link between: (i) the technology structure (high- versus low-tech sectors) and the skill structure (high- versus low-skilled workers), by considering an explicit...

Ponzi and Madoff names, as well as the Portuguese D. Branca, are so-called investment schemes that have become well-known. These scams are widespread and continue to exist, with more or less modifications, depicting serious damage to many people and society in general. Being a phenomenon of easy...

It is known that the discretization of continuous-time models can introduce chaotic behaviour, even when this is not consistent with observations or even the model’s assumptions. We propose generic dynamics describing discrete-time core-periphery models that comply with the established...

This paper incorporates healthcare and creative activities in the Ramsey-Cass-Koopmans model in order to analyse the endogenous growth effects arising from governmental policies. An increase in lump-sum taxes and inefficient expenditures decrease the short, medium and the long-run economic growth.

In the standard models of North-South technological-knowledge diffusion, the larger the initial technological-knowledge gap between countries, the greater the Southern catching up. However, this result does not adjust well to Southern reality as a whole. The purpose of this paper is to...

Within the debate that involves the application of a tax discipline in the EMU, some authors have questioned the adequacy of the use of the same tax rules for all the different member states, appealing to a more temporary tax flexibility for the small and less developed countries. For such...

Within the debate that involves the application of a tax discipline in the EMU, some authors have questioned the adequacy of the use of the same tax rules for all the different member states, appealing to a more temporary tax flexibility for the small and less developed countries. For such...

Considering an integrated area, this paper deals with the balance between the positive effects in the degree of economic cohesion resulting from R&D subsidies, temporarily granted from an imitator and less developed country, and the external negative effects arising from the eventual creation of...