Technology entrepreneurship is an important driver of economic growth, though entrepreneurs must maintain cooperative ties with the owners of any technology they hope to bring to market. Existing studies show that fairness perceptions have a great influence on this cooperation, but no research investigates its precise mechanisms or dynamic patterns. This study explores the development of 17 ven...

An endogenous growth model is examined where individuals optimize consumption and tax evasion over time given the tax structure and tax compliance policy of the government. Applying methods of stochastic optimal control, the individual’s problem is solved and the rate of economic growth is derived. It is shown that for a given tax policy tax evasion spurs growth because it leads to higher savin...

In this paper we develop an economic growth model that includes anthropogenic climate change. We include a publicly funded research sector that creates new technologies and simultaneously expands the productivities of existing technologies. The environment is affected by R&D activities both negatively, through the increase of output from productivity growth, as well as positively as new technol...

In this paper we pursue an approach based on economic theory to illustrate possible shortcomings of widely used detrending methods. We analyze a simple model of economic growth and business cycles in which investment and technical progress are stochastic. The Hodrick-Prescott and the Baxter-King filter are shown to detect spurious business cycles that are not related to actual cycles in the mod...

Modern theories of government finance stress the importance of an economy s fiscal deficits in determining the course of monetary policy. Modern growth theory stresses the role of monetary factors in economic growth. This paper explores how these two are interrelated, using a simple AK growth model, one with money, reserve requirements, and government debt. We provide a comprehensive look at th...

In the pre-economic reform era, the question of scientific and technological development in India had a central role in the general debate on the country’s development strategy, whether in policy-oriented discussions, in academic considerations or in discussions in the public and political arena. Unusually, compared to several other contentious issues, science and technology was the subject of ...

A physiologically based population dynamics model of a renewable resource is used as the basis to develop a model of human harvesting. The model incorporates developing technology and the effects of market forces on the sustainability of common property resources. The bases of the model are analogies between the economics of resource harvesting and allocation by firms and adapted organisms in n...

This study explores the different implications of patent breadth and R&D subsidies on economic growth and endogenous market structure in a Schumpeterian growth model. We find that when the number of firms is fixed in the short run, patent breadth and R&D subsidies serve to increase economic growth as in previous studies. However, when the number of firms adjusts endogenously in the long run, R&...

This paper investigates the relevance of government purchasing behavior for innovationbased economic growth. We construct a parsimonious Schumpeterian growth model in which demand from the public sphere can effectively alter the economy’s rate of technological change. We incorporate results of various empirical studies arguing that public sector demand acts as incentive for private innovation a...

This paper develops an endogenous growth model of a dual economy where human capital accumulation is the source of economic growth. The dualism between the rich individuals and the poor individuals exists in the mechanism of human capital accumulation. Rich individuals allocate labour time not only for their own production and knowledge accumulation but also to train the poor individuals. Stead...