The protection of intellectual property rights (IPR) and the distribution of rent are central issues in R&D-based growth models with the return to innovation serving as the engine of growth. In this paper the authors consider the strength of the intellectual property rights and franchise...

This paper examines the effects of tourism in a dynamic model of trade on unemployment, capital accumulation and resident welfare. A tourism boom improves the terms of trade, increases labor employment, but lowers capital accumulation. The reduction in the capital stock depends on the degree of...

This paper examines the short- and long-term effects of urbanization, via favorable urban development policies, on income distribution and social welfare for a developing country. The urban manufacturing sector is characterized by imperfect competition and free entry. Urbanization shifts rural...

Bemerkungen zum Steuermultiplikator Die Schlußfolgerung von Holmes und Smyth (1972), die in der Literatur starke Beachtung fand, zeigt, daß eine Politik der Steuersenkung die Inlandsproduktion senken kann, sofern die Geldnachfragefunktion mehr durch das verfügbare Einkommen als durch das...