Advanced Search
MyIDEAS: Login to save this article or follow this journal

The Dynamics of the Jones R&D Growth Model

Contents:

Author Info

  • Lutz G. Arnold

    (University of Regensburg)

Abstract

The dynamics of most prominent endogenous growth models are well understood. One notable exception is the Jones (1995) R&D growth model. This paper provides an analytical treatment of this model's transitional dynamics. It is shown that, given constant returns to labor in R&D (as conventionally assumed in R&D growth models), a unique trajectory converging to the balanced growth path exists. The equilibrium growth path can be monotonic or oscillatory. Moreover, applying a theorem from Arnold (2005), this result can be used to characterize the dynamic behavior of the multi-country open-economy version of the model. (Copyright: Elsevier)

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://dx.doi.org/10.1016/j.red.2005.09.001
File Function: Full text
Download Restriction: Access to full texts is restricted to ScienceDirect subscribers and ScienceDirect institutional members. See http://www.sciencedirect.com/ for details.

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Bibliographic Info

Article provided by Elsevier for the Society for Economic Dynamics in its journal Review of Economic Dynamics.

Volume (Year): 9 (2006)
Issue (Month): 1 (January)
Pages: 143-152

as in new window
Handle: RePEc:red:issued:v:9:y:2006:i:1:p:143-152

Contact details of provider:
Postal: Review of Economic Dynamics Academic Press Editorial Office 525 "B" Street, Suite 1900 San Diego, CA 92101
Fax: 1-314-444-8731
Email:
Web page: http://www.EconomicDynamics.org/review.htm
More information through EDIRC

Order Information:
Email:
Web: http://www.EconomicDynamics.org/RED17.htm

Related research

Keywords: growth without scale effects; transitional dynamics;

Find related papers by JEL classification:

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. Mulligan, C.B. & Sala-i-Martin, X., 1992. "Transitional Dynamics in Two-Sector Models of Endogenous Growth," Papers 651, Yale - Economic Growth Center.
  2. Caballe, Jordi & Santos, Manuel S, 1993. "On Endogenous Growth with Physical and Human Capital," Journal of Political Economy, University of Chicago Press, vol. 101(6), pages 1042-67, December.
  3. Paul Romer, 1989. "Endogenous Technological Change," NBER Working Papers 3210, National Bureau of Economic Research, Inc.
  4. Jones, C.I., 2000. "Sources of U.S. Economic Growth in a World of Ideas," Papers 99-29, United Nations World Employment Programme-.
  5. Lutz G. Arnold, 2000. "Endogenous technological change: a note on stability," Economic Theory, Springer, vol. 16(1), pages 219-226.
  6. Antonio Ladron de Guevara & Salvador Ortigueira & Manuel S. Santos, 1994. "Equilibrium Dynamics in Two-Sector Models of Endogenous Growth," Working Papers 9403, Centro de Investigacion Economica, ITAM.
  7. Steger Thomas M., 2005. "Non-Scale Models of R&D-based Growth: The Market Solution," The B.E. Journal of Macroeconomics, De Gruyter, vol. 5(1), pages 1-30, February.
  8. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
  9. Faig, Miquel, 1995. "A simple economy with human capital: Transitional dynamics, technology shocks, and fiscal policies," Journal of Macroeconomics, Elsevier, vol. 17(3), pages 421-446.
  10. Eric W. Bond & Ping Wang & Chong K. Yip, 1993. "A general two sector model of endogenous growth with human and physical capital," Research Paper 9303, Federal Reserve Bank of Dallas.
  11. Jones, Charles I, 1995. "R&D-Based Models of Economic Growth," Journal of Political Economy, University of Chicago Press, vol. 103(4), pages 759-84, August.
  12. Eicher, Theo S. & Turnovsky, Stephen J., 2001. "Transitional dynamics in a two-sector non-scale growth model," Journal of Economic Dynamics and Control, Elsevier, vol. 25(1-2), pages 85-113, January.
  13. Benhabib Jess & Perli Roberto, 1994. "Uniqueness and Indeterminacy: On the Dynamics of Endogenous Growth," Journal of Economic Theory, Elsevier, vol. 63(1), pages 113-142, June.
  14. Asada, Toichiro & Semmler, Willi & Novak, Andreas J., 1998. "Endogenous growth and the balanced growth equilibrium," Research in Economics, Elsevier, vol. 52(2), pages 189-212, June.
  15. Mino, Kazuo, 1996. "Analysis of a Two-Sector Model of Endogenous Growth with Capital Income Taxation," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 37(1), pages 227-51, February.
Full references (including those not matched with items on IDEAS)

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Jakub, GROWIEC & Ingmar, SCHUMACHER, 2007. "Technological opportunity, long-run growth and convergence," Discussion Papers (ECON - Département des Sciences Economiques) 2007034, Université catholique de Louvain, Département des Sciences Economiques.
  2. Christian Groth & Karl-Josef Koch & Thomas M. Steger, 2009. "When economic growth is less than exponential," MAGKS Papers on Economics 200931, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
  3. Guido Cozzi, 2008. "Why the Rich Should Like R&D Less," Working Papers 2009_14, Business School - Economics, University of Glasgow, revised Aug 2008.
  4. Chu, Angus C., 2007. "Optimal Patent Breadth: Quantifying the Effects of Increasing Patent Breadth," MPRA Paper 3910, University Library of Munich, Germany.
  5. Christian Groth & Karl-Josef Koch & Thomas M. Steger, 2006. "Rethinking the Concept of Long-Run Economic Growth," Discussion Papers 06-06, University of Copenhagen. Department of Economics.
  6. Maurizio Iacopetta, 2009. "Formal Education and Public Knowledge," DEGIT Conference Papers c014_012, DEGIT, Dynamics, Economic Growth, and International Trade.
  7. Sasaki, Hiroaki & Hoshida, Keisuke, 2014. "Semi-Endogenous R&D Growth Model with Negative Population Growth," MPRA Paper 53833, University Library of Munich, Germany.
  8. Koichi Futagami & Takeo Hori, 2009. "Technological Progress and Population Growth: Do we have too few children?," Discussion Papers in Economics and Business 09-21, Osaka University, Graduate School of Economics and Osaka School of International Public Policy (OSIPP).
  9. Hiroaki Sasaki, 2008. "North-South Asymmetry in Returns to Scale, Uneven Development, and the Population Puzzle," TERG Discussion Papers 238, Graduate School of Economics and Management, Tohoku University.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:red:issued:v:9:y:2006:i:1:p:143-152. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Christian Zimmermann).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.