What are the effects of the WTO’s TRIPS Agreement on growth, welfare and income inequality? To analyze this question, we develop an open-economy R&D-growth model with wealth heterogeneity. Under TRIPS, the North experiences higher growth and welfare at the expense of higher income inequality....

What are the effects of strengthening developing countries' protection for intellectual property rights on economic growth, social welfare and income inequality in the global economy? To analyze this question, we develop a two-country R&D-based growth model with wealth heterogeneity. We find...

This paper demonstrates that a pollution tax with a fixed cost component may lead, by itself, to segregation between clean and dirty firms without heterogeneous preferences or increasing returns. We construct a simple model with two locations and two industries (clean and dirty) where pollution...

This paper demonstrates that a pollution tax with a fixed cost component may lead, by itself, to stratification between clean and dirty firms without heterogeneous preferences or increasing returns. We construct a simple model with two locations and two industries (clean and dirty) where...

This paper demonstrates that a pollution tax with a fixed cost component may lead, by itself, to stratification between clean and dirty firms without heterogeneous preferences or increasing returns. We construct a simple model with two locations and two industries (clean and dirty) where...

What are the effects of the WTO's TRIPS Agreement on growth, welfare and income inequality? To analyze this question, we develop an open-economy R&D-driven endogenous-growth model with wealth heterogeneity. Under TRIPS, the North experiences higher growth and welfare at the expense of higher...