A standard Ak-model of endogenous growth has been extended to allow for an intertemporal conflict between capitalists and workers. For the dynamic game thus obtained, an equilibrium solution in feedback Nash (Markovian) strategies have been computed. However, many equilibria in trigger...

Constructing a simple dynamic North–South model in which factors of production are internationally immobile and there is no international credit market, it is possible that a persistent and unilateral foreign aid makes both North and South better off. We also show that the Pareto-improving...

Purpose – We ask how far the Kemp–Wan Pareto-improving result can hold without inter-country transfers. Methodology/approach – Assuming that the standard revenue and expenditure functions exist, we consider tariff adjustments for some group of countries such that they makes member...