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Why, indeed, in America? Theory, History, and the Origins of Modern Economic Growth
Romer, Paul M. - 1996
When they are used together, economic history and new growth theory give a more complete picture of technological change than either can give on its own. An empirical strategy for studying growth that does not use historical evidence is likely to degenerate into sterile model testing exercises....
Persistent link: https://www.econbiz.de/10012473421
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International Trade with Endogenous Technological Change
Rivera-Batiz, Luis A. - 1991
To explain why trade restrictions sometimes speed up worldwide growth and sometimes slow it down, we exploit an analogy with the theory of consumer behavior. substitution effects make demand curves slope down, but income effects can increase or decrease the slope, and can sometimes overwhelm the...
Persistent link: https://www.econbiz.de/10012475426
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Economic Integration and Endogenous Growth
Rivera-Batiz, Luis A. - 1990
In a world with two similar, developed economies, economic integration can cause a permanent increase in the worldwide rate of growth. Starting from a position of isolation, closer integration can be achieved by increasing trade in goods or by increasing flows of ideas. We consider two models...
Persistent link: https://www.econbiz.de/10012475469
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Human Capital And Growth : Theory and Evidence
Romer, Paul M. - 1989
like education and experience on the one hand, and knowledge or science on the other? and How do knowledge and science …
Persistent link: https://www.econbiz.de/10012475868
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Increasing Returns and New Developments in the Theory of Growth
Romer, Paul M. - 1989
From the beginning, growth theory has been faced with technically challenging questions about increasing returns and the way to capture ideas in a model of market exchange. Initially, reliance on perfect competition forced growth theory to narrow its scope. Recently, new tools for studying...
Persistent link: https://www.econbiz.de/10012475947
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Insurance and Incentives for Medical Innovation
Garber, Alan M. - 2006
This paper studies the interactions between health insurance and the incentives for innovation. Although we focus on … pharmaceutical innovation, our discussion applies to other industries producing novel technologies for sale in markets with … overutilization of health care. Our study of innovation in the pharmaceutical industry emphasizes the interaction of these incentives …
Persistent link: https://www.econbiz.de/10012466589
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New Goods, Old Theory, and the Welfare Costs of Trade Restrictions
Romer, Paul M. - 1993
The typical economic model implicitly assumes that the set of goods in an economy never changes. As a result, the predicted efficiency loss from a tariff is small, on the order of the square of the tariff rate. If we loosen this assumption and assume that international trade can bring new goods...
Persistent link: https://www.econbiz.de/10012474494
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Trapped Factors and China's Impact on Global Growth
Bloom, Nicholas - 2014
-run growth by increasing the profit from innovation. In the short run, factors of production must be reallocated inside firms …, which lowers the opportunity cost of innovation, generating an additional trapped factor effect. Starting from a baseline …
Persistent link: https://www.econbiz.de/10012458713