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Switching from Patents to an Intertemporal Bounty in a Non-Scale Growth Model: Transitional Dynamics and Welfare Evaluation
Lin, Hwan C. - Volkswirtschaftliche Fakultät, … - 2012
The prize system for innovation has been criticized as impractical due to the lack of a workable formula or algorithm to determine the size of prizes. In this paper, a decentralized market mechanism via the intertemporal bounty (IB) system can function to duplicate Pareto optimality. Under this...
Persistent link: https://www.econbiz.de/10011259176
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Switching from Patents to an Intertemporal Bounty in a Non-Scale Growth Model
Lin, Hwan C. - Volkswirtschaftliche Fakultät, … - 2012
The prize system for innovation has been criticized as impractical due to the lack of any workable formula or algorithm to determine the size of prizes. In this paper, a decentralized market mechanism via the intertemporal bounty (IB) system can function to duplicate Pareto optimality. Under...
Persistent link: https://www.econbiz.de/10010729014
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Finite-length Patents and Functional Differential Equations in a Non-scale R&D-based Growth Model
Lin, Hwan C.; Shampine, L.F. - Volkswirtschaftliche Fakultät, … - 2014
The statutory patent length is 20 years in most countries. R&D-based endogenous growth models, however, often presume an infinite patent length. In this paper, finite-length patents are embedded in a non-scale R&D-based growth model, but any patent’s effective life may be terminated...
Persistent link: https://www.econbiz.de/10011144094
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Southern Innovation and Foreign Direct Investment
Suzuki, Keishun - Volkswirtschaftliche Fakultät, … - 2014
Many empirical studies have yielded mixed results about the impact of foreign direct investment (FDI) on domestic innovation in developing countries. This paper investigates the effect of FDI-promoting policy on innovation in the South in a general equilibrium model that incorporates both the...
Persistent link: https://www.econbiz.de/10011109597
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Monopolistic competition, indeterminacy and growth
Benhabib, Jess; Perli, Roberto; Xie, Danyang - Volkswirtschaftliche Fakultät, … - 1994
In this paper we analyse the dynamics of both Romer's original model of endogenous growth and of a modified version where the level of labour and human capital are determined endogenously. We find that the original model can have an indeterminate Balanced Growth Path (BGP) if there is some...
Persistent link: https://www.econbiz.de/10011109934
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Learning by investing, embodiment, and speed of convergence
Groth, Christian; Wendner, Ronald - Volkswirtschaftliche Fakultät, … - 2011
This paper sets up a dynamic general equilibrium model to study how the composition of technical progress affects the asymptotic speed of convergence. The following questions are addressed: Will endogenizing a fraction of the productivity increases as coming from learning by investing help to...
Persistent link: https://www.econbiz.de/10008854415
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Heterogeneous Consumers, Demand Regimes, Monetary Policy and Equilibrium Determinacy
Di Bartolomeo, Giovanni; Rossi, Lorenza - Volkswirtschaftliche Fakultät, … - 2005
effectiveness (quantitative effects) of monetary policy and equilibrium determinacy properties of a New Keynesian DSGE model where a …
Persistent link: https://www.econbiz.de/10005836497
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Determinacy of equilibria of smooth infinite economies
Covarrubias, Enrique - Volkswirtschaftliche Fakultät, … - 2008
This paper deals with generic determinacy of equilibria for infinite dimensional consumption spaces. Our work could be … transversality density theorem. Assuming separable utilities, we give a new proof of generic determinacy of equilibria. We define …
Persistent link: https://www.econbiz.de/10005836675
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Equilibrium selection in a cashless economy with transaction frictions in the bond market
Marzo, Massimiliano; Zagaglia, Paolo - Volkswirtschaftliche Fakultät, … - 2011
markets for the determinacy of rational expectations equilibria. We use a strongly-separable utility function to model 'liquid … this context, the inflation targeting parameter should be higher than one for determinacy of rational expectations …. Achieving solution determinacy requires constraining these coefficients within bounds that depend on the structural parameters …
Persistent link: https://www.econbiz.de/10009147592
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Smooth economic analysis for general spaces of commodities
Accinelli, Elvio; Covarrubias, Enrique - Volkswirtschaftliche Fakultät, … - 2014
This paper provides an extended framework to study general equilibrium theory with commodity spaces possibly of infinite dimensions. Our approach overcomes some difficulties found in the literature since it allows the study of the equilibrium when consumption sets may have an empty interior. It...
Persistent link: https://www.econbiz.de/10011107491