Patenting and licensing are introduced into the lab-equipment horizontal innovation model of endogenous growth. Patent length is not deterministic, in that patent holders' market power will collapse if and only if their patented goods get successfully imitated. The model is solved in an exact...

This paper sets forth a Neo-Kaleckian model of capacity utilization and growth with distribution featuring a profit-sharing arrangement. While a given proportion of firms compensate workers with only a base wage, the remaining proportion do so with a base wage and a share of profits. Consistent...

This paper sets forth a Neo-Kaleckian model of capacity utilization and growth with distribution featuring a profit-sharing arrangement. While a given proportion of firms compensate workers with only a base wage, the remaining proportion do so with a base wage and a share of profits. Consistent...