Using and producing ideas in computable endogenous growth
AbstractIt 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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Bibliographic InfoPaper provided by Department of Economics, University of Trento, Italia in its series Department of Economics Working Papers with number 0516.
Date of creation: 2005
Date of revision:
endogenous growth; algorithmic ideas; computable growth;
Other versions of this item:
- K. Vela Velupillai, 2005. "Using and Producing Ideas in Computable Endogenous Growth," Working Papers 0097, National University of Ireland Galway, Department of Economics, revised 2005.
- C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
- D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor 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
This paper has been announced in the following NEP Reports:
- NEP-ALL-2005-10-22 (All new papers)
- NEP-CBE-2005-10-22 (Cognitive & Behavioural Economics)
- NEP-CMP-2005-10-22 (Computational Economics)
- NEP-MAC-2005-10-22 (Macroeconomics)
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.:
- Vela Velupillai, K., 2002. "Effectivity and constructivity in economic theory," Journal of Economic Behavior & Organization, Elsevier, vol. 49(3), pages 307-325, November.
- Swan, Trevor W, 2002. "Economic Growth," The Economic Record, The Economic Society of Australia, vol. 78(243), pages 375-80, December.
- T. W. Swan, 1956. "ECONOMIC GROWTH and CAPITAL ACCUMULATION," The Economic Record, The Economic Society of Australia, vol. 32(2), pages 334-361, November.
- Kumaraswamy Velupillai, 2003. "Essays on computable economics, methodology and the philosophy of science," Department of Economics Working Papers 0308, Department of Economics, University of Trento, Italia.
- Romer, Paul, 1993. "Idea gaps and object gaps in economic development," Journal of Monetary Economics, Elsevier, vol. 32(3), pages 543-573, December.
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