Showing 1 - 10 of 338
Persistent link: https://www.econbiz.de/10002035720
We study how frictions in learning others' technology, termed "imperfect technology spillovers," impact firm innovation … strategies and the aggregate economy through changes in innovation composition. We develop an endogenous growth model that … generates strategic innovation decisions, where multi-product firms improve their products via own-innovation and enter new …
Persistent link: https://www.econbiz.de/10015163046
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
exhaustively explain innovation, the role of ownership competence, profits, the function of financial markets, wealth and income … theoretical basis for the importance of new venture creation as a source of innovation-driven growth; entrepreneurs must establish …
Persistent link: https://www.econbiz.de/10015163031
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
); innovation returns are modeled as following an ex ante known probability distribution. By assuming that innovation outcomes are …
Persistent link: https://www.econbiz.de/10013412825
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
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
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
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