'Diversity Is, Uh ..., Homogeneity': The Case of Horizontal Innovation
AbstractThe literature on 'horizontal innovation' claims to analyse the cases where unbounded endogenous growth comes from an increasing variety of intermediate goods. The present paper contends that a good sample of representative models in this literature share two essential assumptions regarding production technology and that these assumptions together amount to assuming the homogeneity of various intermediate goods. In these models, there is no variety of intermediate goods to increase due to the R&D activity; what increases is a mass of a single homogeneous intermediate good.
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Bibliographic InfoPaper provided by Institute of Economic Research, Korea University in its series Discussion Paper Series with number 0505.
Date of creation: 2005
Date of revision:
horizontal innovation; Dixit-Stiglitz technology;
Find related papers by JEL classification:
- E13 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Neoclassical
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-02-26 (All new papers)
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