Endogenous fertility, multiple growth paths, and economic convergence

Article Abstract:

The Cass-Koopmans optimal growth model hypothesizes that a common standard of living will be reached by countries. The model is extended to incorporate fertility decisions. It is shown that a stable equilibrium can be achieved when there are economies of scale in having children. The net rate of return on capital may not be decreasing monotonically in capital if fertility rates are chosen.

Analysis, Equilibrium (Economics)

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Economic Growth and Conflict over the Distribution of Income

Article Abstract:

A predator-prey model is developed of economic growth, inflation and fluctuations in an economy faced with class struggle. Explanations are provided for income distribution and class conflict. Production substitution smoothing is achieved.

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Learning from the experience of others: Parameter uncertainty and economic growth in a model of creative destruction

Article Abstract:

A quality-ladder model of economic growth is considered, incorporating R&D uncertainties.

Industrial research

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