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Public Funding for Basic Research in an Endogenous Growth Model
Murro, Pierluigi - 2011
The paper deals with the effects of government policy promoting basic research as an incentive to economic growth. Government is included into a Schumpeterian endogenous growth model, in which, thanks to the income proceeding from proportional taxation of monopolistic enterprises profits, it is...
Persistent link: https://www.econbiz.de/10013126986
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Growth on a finite planet : resources, technology and population in the long run
Peretto, Pietro F.; Valente, Simone - 2011
We study the interactions between technological change, resource scarcity and population dynamics in a Schumpeterian model with endogenous fertility. There exists a pseudo- Malthusian equilibrium in which population is constant and income grows exponentially: the equilibrium population level is...
Persistent link: https://www.econbiz.de/10009236275
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When economic growth is less than exponential
Groth, Christian; Koch, Karl-Josef; Steger, Thomas M. - 2009
This paper argues that growth theory needs a more general notion of “regularity” than that of exponential growth. We suggest that paths along which the rate of decline of the growth rate is proportional to the growth rate itself deserve attention. This opens up for considering a richer set...
Persistent link: https://www.econbiz.de/10003833712
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When economic growth is less than exponential
Groth, Christian; Koch, Karl-Josef; Steger, Thomas M. - 2009
This paper argues that growth theory needs a more general notion of regularityʺ than that of exponential growth. We suggest that paths along which the rate of decline of the growth rate is proportional to the growth rate itself deserve attention. This opens up for considering a richer set of...
Persistent link: https://www.econbiz.de/10003867912
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When economic growth is less than exponential
Groth, Christian; Koch, Karl-Josef; Steger, Thomas M. - 2009
This paper argues that growth theory needs a more general notion of “regularity” than that of exponential growth. We suggest that paths along which the rate of decline of the growth rate is proportional to the growth rate itself deserve attention. This opens up for considering a richer set...
Persistent link: https://www.econbiz.de/10003852273
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The lost race against the machine : automation, education, and inequality in an R&D-based growth model
Prettner, Klaus; Strulik, Holger - 2017
We analyze the effects of automation and education on economic growth and inequality in an R&D-based growth model with … machines. The model predicts that innovation-driven growth leads to increasing automation, an increasing skill premium, an … contrast to conventional wisdom, our theory predicts that faster economic growth promotes inequality. Because education and …
Persistent link: https://www.econbiz.de/10011754634
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Financing ventures
Greenwood, Jeremy; Han, Pengfei; Sanchez, Juan M. - 2017
The relationship between venture capital and growth is examined using an endogenous growth model incorporating dynamic contracts between entrepreneurs and venture capitalists. At each stage of financing, venture capitalists evaluate the viability of startups. If viable, venture capitalists...
Persistent link: https://www.econbiz.de/10011782639
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The lost race against the machine : automation, education and inequality in an R&D-based growth model
Prettner, Klaus; Strulik, Holger - 2017
We analyze the effect of automation on economic growth and inequality in an R&D-based growth model with two types of labor: highskilled labor that is complementary to machines and low-skilled labor that is a substitute for machines. The model predicts that innovationdriven growth leads to...
Persistent link: https://www.econbiz.de/10011620638
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When Economic Growth is Less than Exponential
Groth, Christian; Koch, Karl-Josef; Steger, Thomas M. - 2010
This paper argues that growth theory needs a more general notion of “regularity” than that of exponential growth. We suggest that paths along which the rate of decline of the growth rate is proportional to the growth rate itself deserve attention. This opens up for considering a richer set...
Persistent link: https://www.econbiz.de/10014192739
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What Do Endogenous Growth Models Contribute?
Maré, David C. - 2006
Endogenous growth theory is one of the mainstream economics approaches to modelling economic growth. This paper provides a non-technical overview of some key strands of the endogenous growth theory (EGT) literature, providing references to key articles and texts. The intended audience is policy...
Persistent link: https://www.econbiz.de/10012735125