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We develop a framework for analyzing quot;medium-runquot; departures from balanced growth, and apply it to the economies of continental Europe. A time-varying factor-augmenting production function (mimicking quot;directedquot; technical change) with a below-unitary substitution elasticity...
Persistent link: https://www.econbiz.de/10012771612
Persistent link: https://www.econbiz.de/10014290867
We develop a horizontal R&D growth model that allows us to investigate the different channels through which financial reforms affect R&D investment and patent activity. First, a “micro” reform that abolishes barriers to entry in the banking sector produces a straightforward result: a...
Persistent link: https://www.econbiz.de/10013229692
We develop a framework for analyzing “medium-run” departures from balanced growth, and apply it to the economies of continental Europe. A time-varying factor-augmenting production function (mimicking “directed” technical change) with a below-unitary substitution elasticity coupled with...
Persistent link: https://www.econbiz.de/10011604961