This paper accepts the premise that positive sum games exist in all dimensions of North-South economic contacts but that the management of conflicts concerning the distribution of the gains requires careful attention. It then proceeds to analyse the current state of play and the character of...

This paper develops a RBC model amended for variable utilization and weak complementarity of capital and labor inputs. The authors show that variable utilization magnifies the instantaneous impact of an aggregate shock on factor inputs and output, and provides the model with a strong propagation...

This note studies conditions under which sequences of capital per head generated by stochastic optimal accumulation models have law of large numbers and central limit properties. The regularity condition used on the productivity shock is somewhat different to that of previous studies. In...

Innovative activity is highly concentrated in a handful of advanced countries. These same countries are also the major exporters of capital goods to the rest of the world. We develop a model of trsde in capital goods to assess its role spreading the benefits of technological advances.

In the context of capital accumulation games this paper proposes two concepts that describe the interactions between agents and give a counterpart, in a symmetric infinite horizon framework, of the well known Fudenberg and Tirole's Taxinomy concerning investment strategies in two-stage games.

Many theoretical model show that redistribution causes low growth. However, cross-country regressions often suggest that growth is positively related to redistribution. This paper analyzes that puzzle in an open economy framework.