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Using the Salop Circle to Study Scale Effects in Schumpeterian Growth Models : Why Inter-Sectoral Knowledge Diffusion Matters
Gray, Elie - 2016
This paper analyzes the link between the fact that fully endogenous growth models exhibit (or not) the non-desirable scale effects property and assumptions regarding the intensity of knowledge diffusion. In that respect, we extend a standard Schumpeterian growth model by introducing explicitly...
Persistent link: https://www.econbiz.de/10012984503
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Entrepreneurial Innovation and Sustained Long-Run Growth Without Weak or Strong Scale Effects
Grossmann, Volker - 2021
R&D-based growth theory suggests that a larger population size raises either the long-run rate of economic growth ("strong scale effect") or the level of per capita income ("weak scale effect"), with far-reaching policy implications. However, for modern times there is little empirical support...
Persistent link: https://www.econbiz.de/10013316550
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Green Technology Adoption and the Business Cycle
Bourgeon, Jean-Marc - 2017
We analyze the adoption of green technology in a dynamic economy affected by random shocks where demand spillovers are the main driver of technological improvements. Firms' beliefs and consumers' anticipations drive the path of the economy. We derive the optimal policy of investment subsidy and...
Persistent link: https://www.econbiz.de/10012953960
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Quantifying Optimal Growth Policy
Grossmann, Volker - 2010
The optimal mix of growth policies is determined within a comprehensive endogenous growth model. The analysis captures important elements of the tax-transfer system and accounts for transitional dynamics. Currently, for calculating corporate taxable income US firms are allowed to deduct...
Persistent link: https://www.econbiz.de/10013142140
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Redistribution and Occupational Choice in a Schumpeterian Growth Model
Wen, Jean-François; García-Peñalosa, Cecilia - CESifo - 2004
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 …
Persistent link: https://www.econbiz.de/10005405717
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What Should We Expect from Innovation? A Model-Based Assessment of the Environmental and Mitigation Cost Implications of Climate-Related R&D
Bosetti, Valentina - 2013
This paper addresses two basic issues related to technological innovation and climate stabilisation objectives: i) Can … innovation policies be effective in stabilising greenhouse gas concentrations? ii) To what extent can innovation policies … technical progress in the energy sector. We evaluate a range of innovation policies, both as a stand-alone instrument and in …
Persistent link: https://www.econbiz.de/10013094894
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The Lindahl Equilibrium in Schumpeterian Growth Models : Knowledge Diffusion, Social Value of Innovations and Optimal R&D Incentives
Gray, Elie - 2014
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)...
Persistent link: https://www.econbiz.de/10013056813
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Adopt or Innovate : Understanding Technological Responses to Cap-and-Trade
Calel, Raphael - 2018
Environmental regulations have consistently been found to spur innovation in ‘clean' technologies, with one significant … effect on innovation. Several explanations have been offered, including secondary market failures and a lack of polluter …, contrary to past experience, encouraged innovation rather than adoption. I discuss how these contrasting findings can be …
Persistent link: https://www.econbiz.de/10012925254
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Business Cycle Effects of Credit and Technology Shocks in a DSGE Model with Firm Defaults
Pesaran, M. Hashem - 2011
This paper proposes a theoretical framework to analyze the impacts of credit and technology shocks on business cycle dynamics, where firms rely on banks and households for capital financing. Firms are identical ex ante but differ ex post due to different realizations of firm specific technology...
Persistent link: https://www.econbiz.de/10013119521
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Macroeconomic Fluctuations in a Stylized DSGE Model with Disequilibrium Dynamics
Van Aarle, Bas - 2012
This study develops a stylised DSGE model, that departs in one aspect: it replaces the general equilibrium approach by disequilibrium economics. In this way, richer macroeconomic adjustment dynamics result, as it is not necessary to assume that goods and labour markets continuously clear. The...
Persistent link: https://www.econbiz.de/10013096548