The modern view of the labor market holds that unemployment is high in economies where unions are strong and the government and other institutions impose on firms obligations that raise the cost of labor. This view is generally correct and yields a clear policy implication: more competition in...

I study the joint determination of market structure and growth in an oligopolistic economy. Firms run in-house R&D programs to produce over time a continuous flow of cost-reducing innovations. In symmetric equilibrium, the relation between market structure and growth has two aspects. First, a...

We generalize the class of growth models in which the scale of the economy has level rather than growth effects, and study the implications of different demographic and research policies when both fertility choice and research effort are endogenous. The model incorporates two dimensions of...