We introduce publicly funded education in R&D-based economic growth theory. The framework allows us to i) incorporate a realistic process of human capital accumulation for industrialized countries, ii) reconcile R&D-based growth theory with the empirical evidence on the relationship between economic prosperity and population growth, iii) revise the policy invariance result of semi-endogenous gr...

Effective transportation systems lead to the efficient movement of goods and people, which significantly contribute to the quality of life in every society. In the heart of every economic and social development, there is always a transportation system. Meanwhile, traffic congestion has been increasing worldwide because of increased motorization, urbanization, population growth, and changes in p...