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Welfare analysis in a Schumpeterian growth model with capital
Hagedorn, Marcus; Kaul, Ashok; Reinthaler, Volker - 2001
In this note we compare the laissez-faire steady-state solution in the Howitt and Aghion (1998) model to the social optimum. The analysis offers several new insights in comparison to the welfare analysis in Aghion and Howitt (1992). We find various new distortions between private and optimal...
Persistent link: https://www.econbiz.de/10011401108
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Innovation, inequality and a golden rule for growth in an economy with Cobb-Douglas function and an R&D sector
Welfens, Paul J. J. - 2015
capital is positively influenced by the size of the R&D sector, sheds new light on innovation and growth as well as income …
Persistent link: https://www.econbiz.de/10010510592
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Growth, development, and technological change
Grossmann, Volker (contributor);  … - 2007
The theory of endogenous technical change has deeply contributed to our understanding of the fundamental sources of … structure of endogenous growth models with horizontal as well as vertical innovation and emphasizing important implications for …
Persistent link: https://www.econbiz.de/10003527555
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Distribution and growth in an economy with limited needs
Saint-Paul, Gilles - 2001
This paper studies a model of the distribution of income under bounded needs. Utility derived from any given good reaches a bliss point at a finite consumption level of that good. On the other hand, introducing new varieties always increases utility. It is assumed that each variety is owned by a...
Persistent link: https://www.econbiz.de/10011401020
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Culture, entrepreneurship, and growth
Doepke, Matthias; Zilibotti, Fabrizio - 2013
We discuss the two-way link between culture and economic growth. We present a model of endogenous technical change where growth is driven by the innovative activity of entrepreneurs. Entrepreneurship is risky and requires investments that affect the steepness of the lifetime consumption profile....
Persistent link: https://www.econbiz.de/10009757305
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Defensive Innovations
Koeniger, Winfried - 2002
Defensive innovations in developed countries can explain the empirical phenomenon that openness towards trade with less-developed countries does not necessarily induce a substantial increase in the wage differential and trade volumes. Building on step-by-step innovations as introduced by Aghion...
Persistent link: https://www.econbiz.de/10011406885
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Are intellectual property rights fair?
Saint-Paul, Gilles - 2002
distorts occupational choice. We study this possibility in the context of a model with horizontal innovation, where the …
Persistent link: https://www.econbiz.de/10011415064
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Technical progress and induced innovation in China : a variable profit function approach
Wong, K. K. Gary; Fleisher, Belton M.; Min Qiang Zhao; … - 2020
productivity (TFP) growth in China. Our primary goal is to test Hicks' induced innovation hypothesis by examining whether technical … find that not only is wage-induced innovation significant and quantitatively important, but also that it substantially … is predominantly driven by wage-induced innovation along with massive injection of heavily subsidized physical inputs in …
Persistent link: https://www.econbiz.de/10012179650
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Optimal accumulation in an endogenous growth setting with human capital
Docquier, Frédéric (contributor);  … - 2006
This paper considers a three-overlapping-generations model of endogenous growth wherein human capital is the engine of growth. It first contrasts the laissez-faire and the optimal solutions. Three possible accumulation regimes are distinguished. Then it discusses a standard set of tax-transfer...
Persistent link: https://www.econbiz.de/10003310953
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Quantifying optimal growth policy
Grossmann, Volker; Steger, Thomas M.; Trimborn, Timo - 2010
The optimal mix of growth policies is derived within a comprehensive endogenous growth model. The analysis captures important elements of the tax-transfer system and takes into account transitional dynamics. Currently, for calculating corporate taxable income US firms are allowed to deduct...
Persistent link: https://www.econbiz.de/10003976826