Karl Shell | Cornell University (original) (raw)

Papers by Karl Shell

Palgrave Macmillan UK eBooks, 2008

Journal of Economic Theory, 2013

Journal of Finance, Jun 1, 1974

ABSTRACT

The Economic Journal, Sep 1, 1968

Journal of Finance, Sep 1, 1971

ABSTRACT

Palgrave Macmillan UK eBooks, 2018

RePEc: Research Papers in Economics, Dec 11, 2009

Journal of Political Economy, Jul 1, 1969

University of Pennsylvania Press eBooks, Dec 31, 1977

Journal of Economic Theory, Sep 1, 2008

Journal of Economic Theory, Oct 1, 1969

Journal of the American Statistical Association, Jun 1, 1967

Social Science Research Network, Sep 7, 1999

ABSTRACT We analyze how the dynamic behavior of an endogenous growth model depends on the degree ... more ABSTRACT We analyze how the dynamic behavior of an endogenous growth model depends on the degree of returns to scale in production. We study a simple model of inventive activity and demonstrate that the case of constant returns to the set of reproducible factors of production (the most commonly studied case in the literature on endogenous growth) is a bifurcation point in parameter space. This bifurcation occurs on the boundary of the state space, making it dicult to analyze formally. For a special case of the model, we provide a transformation that allows us to classify the bifurcation as transcritical using standard methods. We discuss the types of new methods that will be needed to formally classify this bifurcation in a broader class of models. We thank Jess Benhabib, Guido Cozzi, Tapan Mitra, John Nachbar, Kazuo Nishimura, Steve Strogatz, and two anonymous referees for many helpful comments. We are especially indebted to John Guckenheimer and Jan Wenzelburger for useful discus...

International Journal of Economic Theory, Jan 2, 2019

Journal of Finance, Jun 1, 1969

First published in 1967, "The Costs of Economic Growth" was based on the central convic... more First published in 1967, "The Costs of Economic Growth" was based on the central conviction that the official figures for growth in real income were entirely compatible with a decline in human welfare. Twenty-five years later, "The Costs of Economic Growth" remains one of the most persuasive and systematic demolitions of the religion of growth yet published, its arguments only reinforced by the growing social and environmental problems of the late 20th century. For this new major edition the text has been revised and updated in the light of recent global perils and environmetal degradation.

The American Economic Review, 2016

In adopting a set of taxes, governments are influenced by the relative costs of ad-ministering an... more In adopting a set of taxes, governments are influenced by the relative costs of ad-ministering and enforcing each kind of tax. Similarly, costs of compliance and trans-actions for households and firms depend on the mix of taxes used. Yet, in previous studies of optimal taxation (e.g., Peter Diamond and James Mirrlees), adminis-tration and transaction costs play no role in the determination of government tax policy. We offer here a first attempt at incorporating these important costs ' into a formal model of optimal taxation.2 In what follows, the class of tax instruments to be used is endogenously determined by an