Satiation of need is generally ignored by growth theory. I study a model where consumers may be satiated in any given … satiation. This, despite that the social costs of innovation are second order compared to their social benefits. Multiple … savings reduces interest rates, which boosts the rate of innovation. When TFP grows exogenously and labor supply is …

capital is positively influenced by the size of the R&D sector, sheds new light on innovation and growth as well as income …

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 …

distorts occupational choice. We study this possibility in the context of a model with horizontal innovation, where the …

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 …