In a truly remarkable contribution, Boldrin and Levine demonstrate that under certain conditions "first-copy costs" of innovation can be funded by revenues from sales of copies without resort to government franchise such as patent and copyright. Advocates of "free software", software licensed...

This paper explores the Nash equilibrium dynamics of environmental and human capital in an overlapping generations model. Environmental capital is degraded by consumption but can be improved by the voluntary provision of environmental goods. Human capital is formed by a child's learning effort...

This paper explores the differential incidence of consumption-tax policy in an overlapping generations model with a market-produced elderly care service. When a child cares about the welfare of his parents, the incidence depends on the tax treatment of care expenditure. If this expenditure is...