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Using and producing ideas in computable endogenous growth

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Author Info
K. Vela Velupillai ()
Abstract

It is shown that Paul Romer’s suggestion to model algorithmically the use and production of ideas in an endogenous growth model is formally feasible. Such a modelling exercise imparts a natural evolutionary flavour to growth models. However, it is also shown that the policy implications are formally indeterminate in a precise and effective sense.

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Paper provided by Department of Economics, University of Trento, Italia in its series Department of Economics Working Papers with number 0516.

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Date of creation: 2005
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Handle: RePEc:trn:utwpde:0516

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Related research
Keywords: endogenous growth; algorithmic ideas; computable growth;

Find related papers by JEL classification:
C63 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming - - - Computational Techniques
D24 - Microeconomics - - Production and Organizations - - - Production; Capital and Total Factor Productivity; Capacity
E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General
O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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  1. Swan, Trevor W, 2002. "Economic Growth," The Economic Record, The Economic Society of Australia, vol. 78(243), pages 375-80, December. [Downloadable!] (restricted)
  2. Vela Velupillai, K., 2002. "Effectivity and constructivity in economic theory," Journal of Economic Behavior & Organization, Elsevier, vol. 49(3), pages 307-325, November. [Downloadable!] (restricted)
  3. Romer, Paul, 1993. "Idea gaps and object gaps in economic development," Journal of Monetary Economics, Elsevier, vol. 32(3), pages 543-573, December. [Downloadable!] (restricted)
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This page was last updated on 2009-12-15.


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