Spatiotemporal dynamics are introduced in a standard Ramsey model of optimal growth in which capital moves toward locations where the marginal productivity of capital is relatively higher. We extend Pontryagin s maximum principle to account for transition dynamics governed by a nonlinear partial...

This paper re-formulates and tests statistically a hypothetical law (HL) of capital accumulation that manifests itself in three scenarios for Italian economy. HL refines Verdoorn law and ‘Ricardian’ relationship between employment and returns; it generalizes neoclassical and Goodwinian...

Many studies have identified the negative effect of environmental regulation on capital accumulation and the positive effect on innovation. This observed capital-innovation tradeoff due to environmental regulation lacks theoretical underpinning. We fill this gap by developing a unified...

Many studies have identified the negative effect of environmental regulation on capital accumulation and the positive effect on innovation, but this observed capital-innovation tradeoff due to environmental regulation lacks theoretical underpinning. We fill this gap by developing a unified...

Scrutinizing post-Keynesian theory of endogenous technical progress and Régulation Theory, this paper examines productivity growth and its variation within capitalist economies. The aim is to identify how institutions steer productivity growth. Based on the vast literature demonstrating that...