We introduce a simple two-sector, three-factor model to investigate the relationship between energy prices, GDP, and the distribution of income between labor and capital, identifying a crucial difference between energy producing and non-energy producing countries. For non producing countries, we...

We study a growth model with two types of agents who are heterogeneous in their degree of family altruism. We prove that every equilibrium path converges to a unique steady state, and study the effect of altruism on the properties of steady-state equilibrium. We show that aggregate income is...

The present paper assesses the interactions between innovation and economic institutions within the context of the inequality-growth nexus. By carrying out fixed effects estimations on a cross-country panel, we find that both institutional quality and innovations improve economic growth at the...