sustained growth and increases welfare. Further, if the steady state is unstable under laissez faire, the introduction of the … subsidy can make the steady state stable. Such a policy has beneficial effects as it fosters output growth along the …We consider a simple model of innovation where equilibrium cycles may arise and show that, whenever actual capital …

problem of finding optimal tax and subsidy schemes in a model in which growth is endogenously sustained by risky innovation …. We characterize the shadow value of growth and entry in the innovation sector. We find that a profit tax is required to …-smoothing incentives in economies with exogenous growth. The interplay of risk and innovation opens a new margin for optimal taxation. …

We analyse how spatial disparities in innovation activities, coupled with migration costs, affect economic geography …, growth and regional inequality. We provide conditions for existence and uniqueness of a spatial equilibrium, and for the …. Narrowing the gap in knowledge spillovers across regions raises growth, and reduces regional inequality by making firms more …

, and an ever larger share of the population living in cities. We explain this pattern within a regional innovation …-driven economic growth model with labor mobility and a demographic structure of overlapping generations. The model shows that there is …

This paper analyzes the effects of new business formation on industry growth. Dynamic panel techniques are used to test …

, and an ever larger share of the population living in cities. We explain this pattern within a regional innovation …-driven economic growth model with labor mobility and a demographic structure of overlapping generations. The model shows that there is …

We analyse how spatial disparities in innovation activities, coupled with migration costs, affect economic geography …, growth and regional inequality. We provide conditions for existence and uniqueness of a spatial equilibrium, and for the …. Narrowing the gap in knowledge spillovers across regions raises growth, and reduces regional inequality by making firms more …

This paper analyzes the effects of new business formation on industry growth. Dynamic panel techniques are used to test …

development. The analysis is based on a dynamic general equilibrium model in which growth occurs endogenously through the … predictability of bribes, the size of the economy may be an important factor in determining the effects of corruption on innovation … and economic growth. …