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We study innovation and the resulting Schumpeterian economic growth that this innovation gives rise to in a model with N heterogeneous regions. For each region i where i=1,...,N, our analysis leads to five findings. First, we define the balanced growth path (BGP) allocations and the equilibrium...
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focuses on a single region which produces a knowledge good with perfectly mobile physical capital. We trace through the effect … mobility affects the impact of the change in education on the output of the knowledge good. Our second model is similar to the … difference in the logarithm of the output of the knowledge good per raw creative capital unit between the two regions into the …
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focuses on a single region which produces a knowledge good with perfectly mobile physical capital. We trace through the effect … mobility affects the impact of the change in education on the output of the knowledge good. Our second model is similar to the … difference in the logarithm of the output of the knowledge good per raw creative capital unit between the two regions into the …
Persistent link: https://www.econbiz.de/10012979996
We study the effects of learning by doing resulting from the production of a final good on economic growth in a region that is creative in the sense of Richard Florida. Firms in this region use creative and physical capital to produce output. We model learning by doing formally and our analysis...
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