Showing 1 - 10 of 393
This paper accounts for China's economic growth since 1980 in a unified endogenous growth model in which a sequencing of physical capital accumulation, human capital accumulation and innovation drives the rise in China's aggregate income. The first stage is characterized by physical capital...
Persistent link: https://www.econbiz.de/10013104873
This paper considers a firm that has the option to undertake product innovations. For each product innovation the firm has to install a new production plant. We find that investments are larger and occur in a later stadium when more of the old capital stock needs to be scrapped. Moreover, we...
Persistent link: https://www.econbiz.de/10013100792
We incorporate the spatial dimension into a standard expanding variety growth model based on R&D. The spatial interaction is introduced through spatial production spillovers, knowledge diffusion across space, and the capability for spatial heterogeneity. Forward-looking agents who operate in a...
Persistent link: https://www.econbiz.de/10014236590
This paper introduces heterogeneity of cross-technologies interactions into the double-differentiated R&D-based endogenous growth model. In this model new technologies appear continuously and older are outdated generating structural change. All technologies may interact with each other through...
Persistent link: https://www.econbiz.de/10011790678
The most influential explanations of economic growth along the past five decades rely on two main items: human capital accumulation and the dissemination of knowledge/technological diffusion. These items traditionally appear as separate growth sources. In this paper an integrated perspective is...
Persistent link: https://www.econbiz.de/10012755084
Mainstream endogenous growth models assume that new knowledge is embodied into new intermediate or final goods, monopolistically supplied by the patent holder. Recent technological progress, however, often gives rise to pure intellectual contents, such as software codes or business models,...
Persistent link: https://www.econbiz.de/10013010824
This article presents a simple condition for optimal coordination of social security policies in the union of two open economies employing different production functions and within which capital and labour are fully mobile. We find that if both countries run fully funded pension schemes, the...
Persistent link: https://www.econbiz.de/10010466906
Green accounting theories have shown that negative genuine savings at some point in time imply unsustainability. Consequently, recent studies advocate the use of the genuine savings measure for empirical testing: a negative index implies sustainability be rejected. This criterion is not...
Persistent link: https://www.econbiz.de/10002845459
Recent work by Greenwood, Hercowitz, and Krusell (1997 and 2000) and Fisher (2003) has emphasized the importance of investment-specific technological change as a main driving force behind long-run growth and the business cycle. This paper shows how the growth model with investment-specific...
Persistent link: https://www.econbiz.de/10014048564
Global warming can be curbed by pricing carbon emissions and thus substituting fossil fuel with renewable energy consumption. Breakthrough technologies (e.g., fusion energy) can reduce the cost of such policies. However, the chance of such a technology coming to market depends on investment. We...
Persistent link: https://www.econbiz.de/10012917020