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An R&D-Based Model of Multi-Sector Growth Author info | Abstract | Publisher info | Download info | Related research | Statistics Rachel Ngai
Roberto M. Samaniego
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We develop a multi-sector general equilibrium model in which productivity growth is drivenby the production of sector-specific knowledge. In the model, we find that long rundifferences in total factor productivity growth across sectors are independent of theparameters of the knowledge production function except for one, which we term the fertilityof knowledge. Differences in R&D intensity are also independent of most other parameters.The fertility of knowledge in the capital sector is central to the growth properties of the modeleconomy.
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Paper provided by Centre for Economic Performance, LSE in its series CEP Discussion Papers with number
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Date of creation: Dec 2006Date of revision:
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Keywords: Endogenous technical change multisector growth fertility of knowledge totalfactor productivity R&D intensity investment-specific technical change Other versions of this item:
Find related papers by JEL classification: D24 - Microeconomics - - Production and Organizations - - - Production; Capital and Total Factor Productivity; Capacity D92 - Microeconomics - - Intertemporal Choice and Growth - - - Intertemporal Firm Choice and Growth, Investment, or Financing O31 - Economic Development, Technological Change, and Growth - - Technological Change - - - Innovation and Invention: Processes and Incentives O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
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