Equilibrium price distribution with directed technical change
This paper studies a non-degenerate price distribution for the homogeneous good within a model of endogenous directed technical change. A probability density function is analytically derived and shown to be related to the technology and innovation parameters of the model.
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- Elias Dinopoulos & Peter Thompson, 1999. "Scale effects in Schumpeterian models of economic growth," Journal of Evolutionary Economics, Springer, vol. 9(2), pages 157-185.
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- Charles I. Jones, 1995. "Time Series Tests of Endogenous Growth Models," The Quarterly Journal of Economics, Oxford University Press, vol. 110(2), pages 495-525.
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