We study innovation and the resulting Schumpeterian economic growth that this innovation gives rise to in a model with N heterogeneous regions. For each region i where i = 1,…,N, our analysis leads to six findings. First, we define the balanced growth path (BGP) allocations and the...

We use a multi-region model and provide the first theoretical analysis of the effects of human capital use and a particular kind of innovative activity on economic growth. In each of the N heterogeneous regions in our model, consumers have constant relative risk aversion preferences, there are...

We theoretically analyze unbalanced growth in an urban economy arising from the preferences of the creative class concerning the relative desirability of agricultural, manufacturing, and service goods. We study two cases. In the first case, the production functions for the three categories of...

Goods are often allocated publically by means of queuing processes in developing countries. In such situations, which group of citizens should a corrupt government official favor? In addition, what should be the basis for this favoritism? To the best of our knowledge, these salient questions...

How should one manage the problem of resistance to antibiotics and pesticides? The formal modeling of this question is very much in its infancy. Therefore, we construct a dynamic and stochastic model of antibiotic or pesticide use to investigate the relative merits of two kinds of treatment...

Goods are often allocated publically by means of queuing processes in developing countries. In such situations, which group of citizens should a corrupt government official favor? In addition, what should be the basis for this favoritism? To the best of our knowledge, these salient questions...