Cozzi, Guido; Giordani, Paolo; Zamparelli, Luca - Sonderforschungsbereich 504 "Rationalitätskonzepte, …; … - 2006
We provide a re-foundation of the symmetric growth equilibrium characterizing the research sector of all vertical R&D-driven growth models. This result does not rely on the usual assumption of a symmetric expectation on the future per-sector R&D expenditure. Indeed, with this structure of...