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Many writers have claimed that R&D has two 'faces'. In addition to the conventional role of stimulating innovation, R … important in this catch up process as well as stimulating innovation directly. Trade, by contrast, plays a more modest role in …
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This paper analyzes the influence of Information structure on the process of knowledge accumulation in a differential game of duopolistic R&D competition. By comparing open-loop and feedback Nash equilibria, representing imperfect and perfect information structures, we show that in the feedback...
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The paper presents a dynamic general-equilibrium model of education, quality and variety innovation, and scale …-invariant growth. We consider endogenous humancapital accumulation in an educational sector and quality and variety innovation in two … separate R&D sectors. In the balanced growth equilibrium education and innovation appear as in-line engines of growth and …
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There is considerable interest in understanding how important market frictions are in stifling the transmission of ideas from one firm to another. Although the theoretical literature emphasizes the importance of these frictions, direct empirical evidence on them is limited. We use comprehensive...
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