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discovery and in the diffusion of a technological principle and their profit flow depends on how many firms adopt the innovation …
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This paper develops and analyzes a macroeconomic model in which aggregate growth and fluctuations arise from the discovery and diffusion of new technologies; there are no exogenous aggregate shocks. The temporal behavior of aggregates is driven by individuals' efforts to innovate and/or make use...
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important contributions. Firstly, it elaborates the hypothesis that total factor productivity growth stems from pecuniary …pt. 1. The localized generation and exploitation of technological knowledge and innovation -- pt. 2. The Italian …
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