We develop a tractable two-sector endogenous growth model in which heterogeneous entrepreneurs face borrowing constraints and the government collects tax to fund public eduction. This model is isomorphic to a Uzawa-Lucas model and there exists a balanced-growth path equilibrium in which the...

This paper studies the effects of fiscal policy on growth in an environment where heterogeneous entrepreneurs face collateral borrowing constraints and human capital accumulation is influenced by public spending. In such an environment, the paper first shows that positive public spending on...

This paper studies the effects of financial deepening and public spending on human capital formation, working hours and growth in a model with financial frictions and productivity heterogeneity. The paper first shows that in the range of capital tax rates that attains a balanced growth path,...

Extreme events are one of the main channels through which climate and socio- economic systems interact. It is likely that climate change will modify their probability distributions and their consequences. The long-term growth models used in climate change assessments, however, cannot capture the...

This study examines the impact of corruption, investment freedom, and democracy on domestic investment in countries in the Middle East and North Africa. In order to achieve this, the GMM model was used to test the annual data from 2011 to 2017. The empirical results show that corruption has a...

Extreme events are one of the main channels through which climate and socio- economic systems interact. It is likely that climate change will modify their probability distributions and their consequences. The long-term growth models used in climate change assessments, however, cannot capture the...

Extreme events are one of the main channels through which climate and socio-economic systems interact. It is likely that climate change will modify their probability distributions and their consequences. The long-term growth models used in climate change assessments, however, cannot capture the...

The argument made in this manuscript is that the two traditional macroeconomic tools, fiscal policy and monetary policy, are insufficient to bring back efficiently into equilibrium an economy that has had a major crisis. Both traditional macro-tools only work through the demand side, and there...

The recent discovery of the Ledenyov digital waves in the economies of scale and scope led to an origination of considerable scientific interest in the modeling of new types of the discrete-time digital signals generators for the business cycles generation in the macroeconomics. Article aims: 1)...

The recent discovery of the Ledenyov digital waves in the economies of scale and scope led to an origination of considerable scientific interest in the modeling of new types of the discrete-time digital signals generators for the business cycles generation in the macroeconomics. Article aims: 1)...