Effects of temporal heterogeniety in the Baumol-Wolff productivity growth model
AbstractIn their utilization of R&D (information) output, different sectors of a heterogeneous industry display different reaction times. This paper analyzes the effects of this temporal heterogeniety on output and productivity for an extended version of the Baumol-Wolff model. Results include conditions implying persistent, non-decaying oscillations in the output and hence also in the productivity rate.
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Bibliographic InfoArticle provided by Springer in its journal Economic Theory.
Volume (Year): 15 (2000)
Issue (Month): 2 ()
Note: Received: January 26, 1998; revised version: January 8, 1999
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Web page: http://link.springer.de/link/service/journals/00199/index.htm
Find related papers by JEL classification:
- O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
- O32 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Management of Technological Innovation and R&D
- C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
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