despite the numerous advantages of large dams, there is still a deep suspicion about the real,long-term benefits and costs of their construction. land use change on a vast scale, displacement of a largepopulation of indigenous people, loss of biodiversity and production of greenhouse gas emissions, as well as environmental, socioeconomic and cultural consequences resulting therefrom, indicate c...

In recent years, debates over the social purpose of corporations have taken center stage amidst rising concern about externalities (such as those associated with climate change and harmful speech) generated by firms. A key motivation is claim that government regulation liability regimes appear not to be functioning sufficiently well force firms internalize these externalities. There thus intere...

Most political bargaining in the U.S. system has two features which are constitutionally mandated: (1) only one actor can make a formal proposal, and (2) he or she can make an indefinite number of proposals. Existing work in economics and political science ignores at least one of these features. I construct a model incorporating both of these components of political bargaining. The main finding...

This paper outlines a theoretical framework for thinking about the role of human capital in a model of endogenous growth. The framework pays particular attention to two questions: What are the theoretical differences between intangibles like education and experience on the one hand, and knowledge or science on the other? and How do knowledge and science actually affect production? One implicati...

We develop an empirical approach to examine static and dynamic knowledge externalities in the context of a regional total factor productivity relationship. Static externalties refer to current period scale or industry-size effects which have been labeled localization externalities or region-size effects known as agglomeration externalities. Dynamic externalities refer to the relationship betwee...

A. Topics and Tools ............................................................................ 1 B. The Lucas Model in Historical Perspective ............................................ 2 Keynesian macroeconomics in the 1960s ......................................................................... 2 Monetarism ....................................................................................

failure of international aid and expansionary internal economic policy. Experience attempts to solve this economic model of endogenous growth based on the Rivera-Batiz & Romer (1991) model that can explain how changes in the structure of payoffs of the economy can affect the rate of growth of output via the rate of change of the number of innovations. Different characterizations of heterogeneou...

This paper is concerned with the role of the output-capital ratio in growth models. In the first part we highlight the behaviour of the output-capital ratio along the balanced growth path in the models of Solow (1956) and Romer (1986). In the second part we assess the stability of the ratio for some industrial countries. JEL classification: O40, N10