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The Microeconomics of an R&D-Based Model of Endogenous Growth

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Author Info
Thompson, Peter

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Abstract

This paper explores the microeconomic structure underlying a class of endogenous growth models in which product differentiation and stochastic quality growth coexist. The general equilibrium model generates a stationary stochastic equilibrium in which a nondegenerate ergodic distribution of firm size depends systematically on parameters of the model. Features of the model necessary for stable endogenous aggregate growth are explored, and predictions of the model are compared with microeconometric evidence on R&D intensity, firm growth, and concentration. Copyright 2001 by Kluwer Academic Publishers

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Publisher Info
Article provided by Springer in its journal Journal of Economic Growth.

Volume (Year): 6 (2001)
Issue (Month): 4 (December)
Pages: 263-83
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Handle: RePEc:kap:jecgro:v:6:y:2001:i:4:p:263-83

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Web page: http://www.springerlink.com/link.asp?id=102931

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  1. Pedro Rui Mazeda Gil & Paulo Brito & Óscar Afonso, 2008. "A Model of Quality Ladders with Horizontal Entry," FEP Working Papers 296, Universidade do Porto, Faculdade de Economia do Porto. [Downloadable!]
  2. Xavier Mateos-Planas, 2004. "Creative Destruction and Policy in a Model of Endogenous Growth," Topics in Macroeconomics, Berkeley Electronic Press, vol. 4(1), pages 1134-1134. [Downloadable!] (restricted)
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This page was last updated on 2009-10-15.


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