We consider an R&D-driven endogenous growth model in which innovation is risky and agents are risk averse. Growth is … social insurance, thus encouraging innovation and accelerating growth. The general equilibrium effects of the reallocation of …

Long run economic growth goes along with structural change. Recent work has identified explanatory factors on the … demand side (non-homothetic preferences) and on the supply-side, in particular differential productivity growth across … these trends. The interplay of differences in productivity growth and in the substitution elasticity across sectors drive …

Schumpeterian growth model by introducing explicitly knowledge diffusion over a Salop (1979) circle: a continuum of sectors … growth rate is. The paper tackles the apparent following paradox. Knowledge diffusion seems to lead to scale effects; however … a scale-invariant fully endogenous growth model is to assume no inter-sectoral knowledge diffusion. However, this …

There is growing interest in multi-sector models that combine aggregate balanced growth, consistent with the well … intensive in the input that becomes more abundant. As a result, growth rates of sectoral capital-labor ratios can differ and, if …

Long run economic growth goes along with structural change. Recent work has identified explanatory factors on the … demand side (non-homothetic preferences) and on the supply-side, in particular differential productivity growth across … these trends. The interplay of differences in productivity growth and in the substitution elasticity across sectors drive …

What is the social value of innovations in Schumpeterian growth models? This issue is tackled by introducing the … concept of Lindahl equilibrium in a standard endogenous growth model with vertical innovations which is extended by explicitly … considering knowledge diffusion on a Salop (1979) circle. Completing markets by pricing knowledge allows us to compare the private …

This paper argues that growth theory needs a more general quot;regularityquot; concept than that of exponential growth …. This offers the possibility of considering a richer set of parameter combinations than in standard growth models. Allowing … zero population growth in the Jones (1995) model serves as our illustration of the usefulness of a general concept of quot …

This paper argues that growth theory needs a more general “regularity” concept than that of exponential growth. This … offers the possibility of considering a richer set of parameter combinations than in standard growth models. Allowing zero … population growth in the Jones (1995) model serves as our illustration of the usefulness of a general concept of “regular growth”. …

What is the social value of innovations in Schumpeterian growth models? This issue is tackled by introducing the … concept of Lindahl equilibrium in a standard endogenous growth model with vertical innovations which is extended by explicitly … considering knowledge diffusion on a Salop (1979) circle. Completing markets by pricing knowledge allows us to compare the private …

The volatility of unanticipated output growth in income per capita is detrimental to long-run development, controlling … for initial income per capita, population growth, human capital, investment, openness and natural resource dependence … the black box and conditioning the variance of growth shocks on several country characteristics. Natural resource …