We reexamine several bodies of data on the growth of output, labor, and capital, within the context of a model that admits the possibility of an externality to the capital input. The model is an augmented version of Paul Romer's (1987) reformulation of the Solow model. Unlike Romer, however, we find no evidence of an externality to capital. This finding implies nothing about the size of possible spillovers in the creation of knowledge because in our model, causality runs exclusively from knowledge to capital.
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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number
3190.
Length: Date of creation: Nov 1989 Date of revision: Publication status: published as The American Economic Review, Vol. 81, No. 1, pp. 82-113, (March 1991). Handle: RePEc:nbr:nberwo:3190
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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.:
Jovanovic, Boyan & MacDonald, Glenn M., 1988.
"Competitive Diffusion,"
Working Papers
88-29, C.V. Starr Center for Applied Economics, New York University.
[Downloadable!]
Other versions:
Boyan Jovanovic & Glenn MacDonald, 1994.
"Competitive Diffusion,"
NBER Working Papers
4463, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Jovanovic, B. & MacDonald, G.M., 1991.
"Competitive Diffusion,"
Papers
92-08, Rochester, Business - Financial Research and Policy Studies.
Cited by: (explanations, 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.)
Feenstra, Robert C & Markusen, James R, 1994.
"Accounting for Growth with New Inputs,"
International Economic Review,
Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 35(2), pages 429-47, May.
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