Piccirilli, Giulio - In: Rivista Internazionale di Scienze Sociali 122 (2013) 2, pp. 233-256
We build an expanding variety endogenous growth model with search frictions in financial markets. We show that the rate of growth declines with the extent of frictions. We also show that, as frictions gain momentum, the rate of growth becomes more sensitive to exogenous variations in innovation...