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Forecasts of global growth have historically been imprecise, punctuated by periods of optimism and pessimism. Inaccuracy in forecasting partly reflects quantifiable risks to the global outlook as well as economic uncertainty
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Difficulties in measuring the production of software might result in significant underestimation of economic growth …. The magnitude of this underestimation is likely to increase over time, if software development continues its current … million KB. The most recent version of the same software, Windows 10, was released in 2015 and is $119. It is 30 GB installed …
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We study an endogenous growth model where a profit-motivated R and D sector coexists with the introduction of free blueprints invented by philanthropists. These goods are priced at marginal cost, contrary to proprietary ones which are produced by a monopoly owned by the inventor. We show that...
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