Based on a model of perpetual growth through optimal search for better technologies, calibrated on time series data form the Israeli economy, it is shown that capital subsidies produce a definite gain in expected growth rates, but those gain are invariant to the particular restrictions associated with the subsidies.
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Length: 24 pages Date of creation: 1996 Date of revision: Handle: RePEc:uwo:uwowop:9603
Contact details of provider: Postal: Department of Economics, Reference Centre, Social Science Centre, University of Western Ontario, London, Ontario, Canada N6A 5C2 Phone: 519-661-2111 Ext.85228 Web page: http://economics.uwo.ca/econref/WorkingPapers/
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