The positive relationship between education and sustainable economic development is now widely recognized. This study develops a dynamic model for population and primary education of Pakistan. Primary education sector in Pakistan is operating in both public and private sectors. Pakistan has a clear socioeconomic division of rural and urban areas that get different priorities in allocations of p...

Evidence on the portfolio holdings and transaction patterns of households suggests that the burden of inflation is not evenly distributed. We build a monetary growth model consistent with key features of cross-sectional household data and use this framework to study the distributional impact of inflation. At the aggregate level, our model economy behaves similar to standard monetary growth mode...

Economists study negotiation as a series of events—partner choice, information gathering, bargaining, etc.—with each step of the process affecting the outcome of the next, and the optimal decision at each stage depending on the player’s bargaining power. The context in which these negotiations occur—the market—is critical, since players can adjust their behaviors in response to outside offers. ...

Tuberculosis remains one of the most devastating diseases in the world, affecting people of all ages across the globe. This paper reviews the economic literature dealing with the theoretical and empirical links between poor health and low productivity, both at an individual and national level. It then conducts panel data analysis covering 91 countries, using an augmented Solow growth model and ...

Nowadays, globalisation is driving us to a process of transformation in economic performance, in shaping institutions and in the definition of economic policy. Globalisation is associated to positive aspects but also to mayor risks. Technology development, markets integration and international trade bring along with and increasing flow of commerce in terms of goods and services, capitals, techn...

Economic growth during the recovery from the recession of –  has been remarkably slow—only . percent at an annual rate in the fi rst twoandahalf years. By comparison, economic growth during a comparable period following the deep American recession that ended in  averaged . percent. Employment growth has also been very weak, with a smaller percentage of the working age population n...

This article investigates the reasoning for income security and its redistributive effect for the disabled, and analyses the economic effects of the work support to the person with disabilities and barrier-free measures to employment of them. As a result of estimation of the marginal utility of income for the disabled with that of general household based on the demand system estimation, the inc...

This paper presents an endogenous growth model in which some firms devote resources to developing higher quality products (innovative R&D) and other firms devote resources to copying these products (imitative R&D). Although consumers benefit from the knowledge created by both types of R&D activities, only innovative R&D subsidies lead to faster economic growth and imitative R&D subsidies actual...

This paper proposes a one-sector multigroup growth model with endogenous labor supply in discrete time. Proposing an alternative approach to behavior of households, we examine the dynamics of wealth and income distribution in a competitive economy with capital accumulation as the main engine of economic growth. We show how human capital levels, preferences, and labor force of heterogeneous hous...

This paper examines how democracy affects long-run growth by influencing the quality of governance. Empirical evidence is presented showing that the quality of governance is substantially higher in democratic countries. A general-equilibrium, endogenous growth model is then built to show how a governance-improving democracy raises growth. In this model, stronger democratic institutions influenc...