This paper investigates how technological distance between firms affects their network of R&D alliances. Our theoretic model assumes that the benefit of an alliance between two firms is given by their technological distance. This benefit-distance relationship determines the ego-network of each...

The adequate measurement of real estate risk is of utmost importance for asset management and real estate portfolio management. Most real estate academics agree that volatility, commonly used as a measure of real estate risk, is inappropriate for that purpose. However, volatility is still a...

Beyond their function of protecting and rewarding innovation, patents are increasingly used as mediation instruments and as vehicles for interactions. Focusing on the development of new, genetically engineered vaccines, we show that they are central components of the production of innovation. A...

This paper offers an alternative way, based on the logistic population growth hypothesis, to yield transitional dynamics in the standard AK model with exogenous savings rate. Within this framework, we show that the dynamics of the capital stock per person and its growth rate can be non-monotonic...

This paper analyzes how population and product market competition (PMC) interact with each other in affecting productivity growth. We find that only a fully endogenous growth model with purposeful investment in human capital, an input in the production of intermediate goods, can simultaneously...

This paper examines two possible sources of interaction between private capital and productive public expenditure within an endogenous growth model. On the one hand, public investment and private capital are complementary with each other in the production of goods. On the other, they can be...

A growth model is presented in which productive government expenditure takes the form of a stock. Private and public capital interact with each other in two ways. The first is related to the specification of the aggregate production function (Cobb-Douglas vs. CES). The second has to do with the...