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Endogenous Product Cycles

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  • Grossman, Gene M
  • Helpman, Elhanan

Abstract

The authors construct a model of the product cycle featuring endogenous innovation and technology transfer. Competitive entrepreneurs in the industrialized North introduce new products whenever the expected present value of oligopoly profits exceeds the cost of product development. In the middle-income South, entrepreneurs devote resources to learning the production processes that have been developed in the North. The authors study the determinants of the long-run rate of growth of the world economy and the long-run rate of imitation. They also study the effects of exogenous events and of public policy on relative wage rates in the two regions. Copyright 1991 by Royal Economic Society.

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Bibliographic Info

Article provided by Royal Economic Society in its journal The Economic Journal.

Volume (Year): 101 (1991)
Issue (Month): 408 (September)
Pages: 1214-29

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Handle: RePEc:ecj:econjl:v:101:y:1991:i:408:p:1214-29

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  1. Grossman, G.M. & Helpman, E., 1988. "Product Development And International Trade," Papers 132, Princeton, Woodrow Wilson School - Public and International Affairs.
  2. Krugman, Paul, 1979. "A Model of Innovation, Technology Transfer, and the World Distribution of Income," Journal of Political Economy, University of Chicago Press, vol. 87(2), pages 253-66, April.
  3. Jensen, Richard & Thursby, Marie, 1986. "A strategic approach to the product life cycle," Journal of International Economics, Elsevier, vol. 21(3-4), pages 269-284, November.
  4. Segerstrom, Paul S & Anant, T C A & Dinopoulos, Elias, 1990. "A Schumpeterian Model of the Product Life Cycle," American Economic Review, American Economic Association, vol. 80(5), pages 1077-91, December.
  5. Romer, Paul M, 1990. "Endogenous Technological Change," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages S71-102, October.
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