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When will reducing trade barriers against a low wage country cause innovation to increase in high wage regions like the … cost of innovating falls. Interestingly, the "China shock" is more likely to induce innovation than liberalization with … be faster long-run growth through innovation in the US and that, in the short run, this is magnified by the trapped …
Persistent link: https://www.econbiz.de/10010610737
long-run growth by increasing the profit from innovation. In the short run, factors of production must be reallocated … inside firms, which lowers the opportunity cost of innovation, generating an additional "trapped factor" effect. Starting …
Persistent link: https://www.econbiz.de/10010747939