Okada, Toshihiro - In: Economics Bulletin 32 (2012) 4, pp. 3036-3052
This paper examines the transitional dynamics of an R&D-based endogenous growth model with heterogeneous labor and explains the post-war comovement of three variables in the U.S. economy: the skill premium, the share of labor devoted to R&D and the growth rate of labor productivity. This paper...