A question of considerable significance that confronts our nation's universities in general and our institutes of technology in particular is the apposite role of the liberal arts in an institute of technology. As such, the purpose of this paper is to provide an economist's perspective on the...

A question of considerable significance that confronts our nation's universities in general and our institutes of technology in particular is the apposite role of the liberal arts in an institute of technology. As such, the purpose of this paper is to provide an economist's perspective on the...

We study the effects of learning by doing resulting from the production of a final good on economic growth in a region that is creative in the sense of Richard Florida. Firms in this region use creative and physical capital to produce output. We model learning by doing formally and our analysis...

We analyze a two-period signaling model in which a representative entrepreneur in a regional economy has a project that generates a random cash flow and that requires investment that the entrepreneur raises from a competitive market. The project's type is known to the entrepreneur but not to the...

We use a dynamic model to study the effects of technology and learning on the long run economic growth rates of a leading and a lagging region. New technologies are developed in the leading region but technological improvements in the lagging region are the result of learning from the leading...

We study innovation and the resulting Schumpeterian economic growth that this innovation gives rise to in a model with N heterogeneous regions. For each region i where i=1,...,N, our analysis leads to five findings. First, we define the balanced growth path (BGP) allocations and the equilibrium...

We focus on an aggregate economy of two nearby cities A and B and study whether it is possible for the leviathan governments in these two cities to use taxes τA and τB to attract members of the so-called creative class. The creative class population is fixed and members locate either in city A...

We examine aspects of long run economic growth in stylized lagging and leading regions. Both regions use physical capital, research and development (R&D), and knowledgeable workers to produce a final consumption good. The lagging region faces two key economic disadvantages. Specifically, the...

The literature on leading and lagging regions has paid scant attention to how heterogeneity between the two regions impacts the provision of a public good. Given this lacuna, our contribution is to construct a game-theoretic model of an aggregate economy consisting of a leading and a lagging...

We analyze the growth effects over space arising from the adoption of new agricultural technology in a rural-urban setting. We use a dynamic model to study the impacts of technology and learning on the steady state growth rates of rural and urban regions that produce agricultural goods. New...