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We develop a dynamic general equilibrium model of education, quality and variety innovation, and scale-invariant growth. The early endogenous innovation-based growth models incorporate a scale effect predicting that larger economies are characterized by higher per capita growth rates. Recent...
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EU cohesion policy supports investment in infrastructure, R&D and human capital in Europe’s poorer regions. This chapter summarises model-based assessments of the potential macro-economic impact of these fiscal transfers using a micro-founded dynamic general equilibrium model with...
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We describe the construction of an integrated assessment model of the economy and the climate. The framework is quantitatively oriented—it is constructed to account for the main global macroeconomic and climate facts—and its structure is a dynamic, stochastic general-equilibrium model. It is...
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Many countries simultaneously suffer from high inflation, low growth and poorly developed financial sectors. In this … inflation on welfare, growth and the size of the financial sector. A novel feature is that the innovation sector is … contrast to previous work, reducing inflation generates large growth gains. These large gains cannot be easily reproduced by …
Persistent link: https://www.econbiz.de/10013116769