R&D Spillovers In An Endogenous Growth Model With Physical Capital, Human Capital, And Varieties
AbstractThere is a family of models with Physical, Human capital and R&D for which convergence properties have been discussed (Arnold, 2000a; GÂ´omez, 2005). However, spillovers in R&D have been ignored in this context. We introduce spillovers in this model and derive its steady-state and stability properties. This new feature implies that the model is characterized by a system of four differential equations. A unique Balanced Growth Path along with a two dimensional stable manifold are obtained under simple and reasonable conditions. Transition is oscillatory toward the steady-state for plausible values of parameters.
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Bibliographic InfoArticle provided by Cambridge University Press in its journal Macroeconomic Dynamics.
Volume (Year): 15 (2011)
Issue (Month): 02 (April)
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Other versions of this item:
- Sequeira, Tiago Neves, 2008. "R&D Spillovers in an Endogenous Growth Model with Physical Capital, Human Capital and Varieties," FEUNL Working Paper Series wp532, Universidade Nova de Lisboa, Faculdade de Economia.
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