Cozzi, Guido - 2009 - Rev.
stock of productive
knowledge cumulated as of time t, and sAt = 1 sY t is the share
of labor employed in the research and …�erence can be
�nanced by a tax on labour income.
5In fact, the growth rate of Y
L is equal to
:A
A =
vLsA
A . As knowledge … capital (family connections), richer
internal knowledge of the workings of the �rms, etc. - it is possible
that !h be …