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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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In an interesting and influential paper Robert Lucas (1993) considering the experience of East Asian small economies, suggests that on the job" learning could be the principal engine of their miraculous growth in the last 20 years. In this paper I develop an overlapping generation model where on...
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