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Economic Growth with Constraints on Tax Revenues and Public Debt : Implications for Fiscal Policy and Cross-Country Differences
Aizenman, Joshua - 2007
This paper evaluates optimal public investment and fiscal policy for countries characterized by limited tax and debt capacities. We study a non stochastic CRS endogenous growth model where public expenditure is an input in the production process, in countries where distortions and limited...
Persistent link: https://www.econbiz.de/10012777949
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Localized and Biased Technologies : Atkinson and Stiglitz's New View, Induced Innovations, and Directed Technological Change
Acemoglu, Daron - 2014
. After linking these ideas to the induced innovation literature of the 1960s and the more recent directed technological …
Persistent link: https://www.econbiz.de/10013055191
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Buy, Keep or Sell : Economic Growth and the Market for Ideas
Akcigit, Ufuk - 2016
An endogenous growth model is developed where each period firms invest in researching and developing new ideas. An idea increases a firm's productivity. By how much depends on how central the idea is to a firm's activity. Ideas can be bought and sold on a market for patents. A firm can sell an...
Persistent link: https://www.econbiz.de/10013006902
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Innovation and Growth with Financial, and Other, Frictions
Chiu, Jonathan - 2018
a model of endogenous growth with frictions. Productivity increases with knowledge, which advances via innovation, and … innovation. First, intermediation allows us to finance more transactions with fewer assets. Second, it ameliorates certain …, suggesting that technology transfer is a significant source of innovation and showing how it is affected by credit considerations …
Persistent link: https://www.econbiz.de/10012940374
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Can't We All Be More Like Scandinavians? Asymmetric Growth and Institutions in an Interdependent World
Acemoglu, Daron; Robinson, James A.; Verdier, Thierry - 2012
"cutthroat capitalism" that generates greater inequality and more innovation and will become the technology leaders, while others …
Persistent link: https://www.econbiz.de/10013099537
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Endogenous Innovation in the Theory of Growth
Grossman, Gene M. - 2010
This paper makes the case that purposive, profit-seeking investments in knowledge play a critical role in the long-run growth process. First, we review the implications of neoclassical growth theory and the more recent theories of 'endogenous growth'. Then we discuss the empirical evidence that...
Persistent link: https://www.econbiz.de/10012763516
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Is Medicine an Ivory Tower? Induced Innovation, Technological Opportunity, and For-Profit vs. Non-Profit Innovation
Bhattacharya, Jay - 2015
opportunities. The paper also provides new evidence on induced pharmaceutical innovation. In both cases we use the change in the … demographic structure of the market (measured by age structure and obesity prevalence) to test the induced innovation hypothesis … pharmaceutical innovation responds to aging- and obesity-induced changes in potential market size …
Persistent link: https://www.econbiz.de/10012750249
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Growth, Trade, and Inequality
Grossman, Gene M. - 2014
We introduce firm and worker heterogeneity into a model of innovation-driven endogenous growth. Individuals who differ …
Persistent link: https://www.econbiz.de/10013047018
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Innovation, Growth, and Dynamic Gains from Trade
Hsu, Wen-Tai; Riezman, Raymond Glenn; Wang, Ping - 2022
trade affects the incentives for technological advancement. We construct an innovation-based endogenous growth model of … North-South trade. There are two types of innovation: one by the North to upgrade the general purpose technology (GPT) and … estimates where the effects of GPT-driven innovation are eliminated. The share of dynamic gains from trade is about 78% of the …
Persistent link: https://www.econbiz.de/10013322981
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A Model of Growth Through Creative Destruction
Aghion, Philippe; Howitt, Peter - 2022
This paper develops a model based on Schumpeter's process of creative destruction. It departs from existing models of endogenous growth in emphasizing obsolescence of old technologies induced by the accumulation of knowledge and the resulting process or industrial innovations. This has both...
Persistent link: https://www.econbiz.de/10013323577