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On the mechanics of economic convergence

Steger, Thomas M. - 2003

In macroeconomic dynamic models the speed at which output converges to its steady state is of outstanding interest. Theoretical investigations usually focus on the asymptotic speed of convergence only. This procedure is, however, unnecessarily restrictive and hides important information. The...

Persistent link: https://www.econbiz.de/10001772528

Cultural Diversity, Geographical Isolation, and the Origin of the Wealth of Nations

Ashraf, Quamrul H. - 2012

This research argues that variations in the interplay between cultural assimilation and cultural diffusion have played a significant role in giving rise to differential patterns of economic development across the globe. Societies that were geographically less vulnerable to cultural diffusion...

Persistent link: https://www.econbiz.de/10013113373

Capital Augmenting Technical Change and Time-Varying Labor Share

Zhang, Pengfei - 2013

We construct a hybrid model of endogenous and semi-endogenous growth to reconcile medium-run changes with long-run constancy of the labor share. Given the fixed population size, endogenous growth in the labor intensive sector implies that labor augmenting technical change could take place at a...

Persistent link: https://www.econbiz.de/10013086647

Knowledge Spillover Entrepreneurship in an Endogenous Growth Model

Acs, Zoltan J. - 2013

This paper challenges the key assumption in "idea based growth models" that innovation rents ultimately reward the … bulk of the innovation rents and are generally the residual claimant. We develop a model that separates invention from … innovation where new ideas are a costless spillover from profit motivated corporate R&D aimed at improving existing production …

Persistent link: https://www.econbiz.de/10013089419

Endogenous Capital-and Labor-Augmenting : Technical Change in the Neoclassical Growth Model

Irmen, Andreas - 2016

innovation investments that increase the productivity of capital and labor in the performance of their respective tasks. These …

Persistent link: https://www.econbiz.de/10013001160

Endogenous Task-Based Technical Change - Factor Scarcity and Factor Prices -

Irmen, Andreas - 2020

This paper develops a static model of endogenous task-based technical progress to study how factor scarcity induces technological progress and changes in factor prices. The equilibrium technology is multi-dimensional and not strongly factor-saving in the sense of Acemoglu (2010). Nevertheless,...

Persistent link: https://www.econbiz.de/10012836938

When Technology Becomes Too Complicated : Implications of Unbalanced Technical Change

San, Shmuel - 2018

This paper examines the impact of unbalanced (skill-biased) technical change on the labor market and economic growth. It argues that when the gap between the technology of skilled and unskilled workers increases, it becomes harder to acquire the skills required to work as a skilled worker;...

Persistent link: https://www.econbiz.de/10012909278

The Rise of the Machines : Automation, Horizontal Innovation and Income Inequality

Hémous, David - 2018

We construct an endogenous growth model with automation and horizontal innovation in an economy with low- and high … decreasing low-skill wages. Horizontal innovation increases both wages. Higher low-skill wages increase incentives to automate so … innovation reduces low-skill wages in the long run …

Persistent link: https://www.econbiz.de/10012938314

Growth Through Heterogeneous Innovations

Akcigit, Ufuk - 2015

framework with multiple innovation sizes, multi-product firms, and entry/exit. Firms invest in external R&D to acquire new …

Persistent link: https://www.econbiz.de/10013023631

Explaining Economic Growth in Developed Economies after 1980

Ballesteros, Carlos - 2016

We use the Aguion and Howitt (2009) theoretical model of endogenous economic growth to explain the declining economic growth in developed economies in the period 1981-2009. Aguion and Howitt theoretical framework combines Solownian and Schumpeterian elements in a single scenario, so that...

Persistent link: https://www.econbiz.de/10012984814