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Technological progress takes the form of improvements in the quality of an array of intermediate inputs to production. In an equilibrium that is standard in the literature, all research is carried out by outsiders, and success means that the outsider replaces the incumbent as the industry...
Persistent link: https://www.econbiz.de/10005067489
We review the role of R&D in endogenous growth theory, and describe extant empirical research – macro and micro – bearing on R&D as an engine of growth. Taking R&D to be key, while recognizing the significance of economic incentives, emphasizes knowledge as an economic object and, more...
Persistent link: https://www.econbiz.de/10005497933
1945. Catching up is no longer relevant in the 1970s and the 1980s, despite a continuing gap in productivity levels vis á …
Persistent link: https://www.econbiz.de/10005792015
productivity. Education as well as innovation and production require skilled labour as inputs. This and the fact that learning …
Persistent link: https://www.econbiz.de/10005114510
, alternative hypotheses such as self-selection or varying individual human capital productivity in different sectors are examined. …
Persistent link: https://www.econbiz.de/10005497700
perspective. It emphasizes the ‘opportunity cost’ approach, which states that firms will intertemporally substitute productivity …
Persistent link: https://www.econbiz.de/10005791240
persistence of productivity growth differentials between nations, even though these countries show a common technology, constant … generations specification. The source of productivity (growth) differentials in our model is the existence of a non-traded capital … than leisure). We consider the influence on productivity growth differentials of private thrift, public debt, the taxation …
Persistent link: https://www.econbiz.de/10005792009