Batabyal, Amitrajeet A.; Nijkamp, Peter - 2011
deterministic model, R&D in time surely leads to an innovation in time In this setting, we show that relative to the balanced growth … innovation and a higher growth rate. Next, in the stochastic model, R&D in time probabilistically leads to an innovation in time … increases the average growth rate and the average unemployment. Creative Destruction ; Dynamic ; Entrepreneur ; Innovation …