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The current British Government's "Big Society" plan is based on the idea that granting more freedom to local communities and volunteers will compensate for a withdrawal of public agencies and spending. This idea is grounded on a widely held belief about the relationship between government and...
Persistent link: https://www.econbiz.de/10015226228
This paper provides a first theoretical and empirical analysis of the effects of psychotherapy on individual productivity. We build a simple model in which a deterioration of mental health endogenously causes a decrease in productivity, which is counterbalanced by psychotherapy. We test our...
Persistent link: https://www.econbiz.de/10015257582
The United States witnessed an increase in pre-tax inequality, a rise in the wealth-to-income ratio, and an extraordinary rise in top income inequality in the last four decades. However, income and wealth tax rates did not increase. To explain this, we build a political economy model in which...
Persistent link: https://www.econbiz.de/10015241443
How does the interplay between natural selection, household education choices, and R&D activities shape our macroeconomic trajectory? To explore this question, we develop an innovation-driven growth model that connects household heterogeneity in education ability with endogenous fertility and...
Persistent link: https://www.econbiz.de/10015213600
The aim of this paper is two-fold. Firstly, we present a methodology to measure the novel concept of elite quality (EQ), that is, country’s elites’ propensity– on aggregate – to create value, rather than rent seek. A four-level architecture allows for both an overall quantification of a...
Persistent link: https://www.econbiz.de/10015213966
This paper examines how the interaction between natural selection, household education choices and R&D activities influences macroeconomic growth. We develop an innovation-driven growth model that integrates household heterogeneity in educational ability with endogenous fertility and the...
Persistent link: https://www.econbiz.de/10015214879
Starting in the early 1980s, the U.S. patent regime experienced major changes that allowed the patenting of numerous scientific findings lacking in current commercial applications. We assess the rationality of these changes in the legal and institutional environment for science and technology...
Persistent link: https://www.econbiz.de/10015217888
This study explores the effects of minimum wage on automation and innovation in a Schumpeterian growth model. We find that raising the minimum wage decreases the employment of low-skill workers and has ambiguous effects on innovation and automation. Specifically, if the elasticity of...
Persistent link: https://www.econbiz.de/10015223875
How does patent policy affect long-run economic growth through the population growth rate? To analyze this question, we develop an R&D-based growth model with endogenous fertility. In recent vintages of R&D-based growth models in which scale effects are absent, the long-run growth rate depends...
Persistent link: https://www.econbiz.de/10015225756
This study develops an R&D-based growth model that features both vertical and horizontal innovation to shed some light on the current debate on whether patent protection stimulates or stifles innovation. Specifically, we analyze the growth and welfare effects of patent protection in the form of...
Persistent link: https://www.econbiz.de/10015225759