Luca Zamparelli

TL;DR: In this paper, the authors provide a refoundation of the symmetric growth equilibrium characterizing the research sector of vertical R&D-driven growth models, by introducing an "contamination of confidence" in the expected distribution of research investment, which is the unique rational expectations equilibrium compatible with ambiguity-averse agents adopting a maxmin strategy.

TL;DR: A survey of non-neoclassical literature on endogenous technical change and the functional income distribution can be found in this paper, where the authors distinguish between classical-Marxian and post-Keynesian models and analyze them under three different assumptions on the determinants of technical change: capital accumulation, income distribution, and labor market tightness.

TL;DR: By introducing an "[epsilon]-contamination of con�dence" in the expected distribution of R&D investment, it is proved that the symmetric structure of R & D investment is the unique rational expectations equilibrium compatible with ambiguity-averse agents adopting a maximin strategy.

TL;DR: In this article, the authors reviewed trend and cyclical patterns of household, business, government, and foreign net borrowing shares of GDP using diagrams and covariance decompositions of the identity stating that the sum of the shares equals zero.

TL;DR: In this article, the authors reviewed trend and cyclical patterns of household, business, government, and foreign net borrowing shares of gross domestic product using diagrams and covariance decompositions of the identity stating that the sum of the shares equals zero.