R&D Spillovers in an Endogenous Growth Model with Physical Capital, Human Capital and Varieties
AbstractThere is a family of models with Physical, Human capital and R&D for which convergence properties have been discussed (Arnold, 2000a; G´omez, 2005). However, spillovers in R&D have been ignored in this context. We introduce spillovers in this model and derive its steady-state and stability properties. This new feature implies that the model is characterized by a system of four differential equations. A unique Balanced Growth Path along with a two dimensional stable manifold are obtained under simple and reasonable conditions. Transition is oscillatory toward the steady-state for plausible values of parameters.
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Bibliographic InfoPaper provided by Universidade Nova de Lisboa, Faculdade de Economia in its series FEUNL Working Paper Series with number wp532.
Length: 21 pages
Date of creation: 2008
Date of revision:
Other versions of this item:
- Sequeira, Tiago Neves, 2011. "R&D Spillovers In An Endogenous Growth Model With Physical Capital, Human Capital, And Varieties," Macroeconomic Dynamics, Cambridge University Press, vol. 15(02), pages 223-239, April.
- NEP-ALL-2008-11-18 (All new papers)
- NEP-DGE-2008-11-18 (Dynamic General Equilibrium)
- NEP-HRM-2008-11-18 (Human Capital & Human Resource Management)
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