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The Microeconomics of an R&D-Based Model of Endogenous Growth

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  • Thompson, Peter

Abstract

This paper explores the microeconomic structure underlying a class of endogenous growth models in which product differentiation and stochastic quality growth coexist. The general equilibrium model generates a stationary stochastic equilibrium in which a nondegenerate ergodic distribution of firm size depends systematically on parameters of the model. Features of the model necessary for stable endogenous aggregate growth are explored, and predictions of the model are compared with microeconometric evidence on R&D intensity, firm growth, and concentration. Copyright 2001 by Kluwer Academic Publishers

Suggested Citation

  • Thompson, Peter, 2001. "The Microeconomics of an R&D-Based Model of Endogenous Growth," Journal of Economic Growth, Springer, vol. 6(4), pages 263-283, December.
  • Handle: RePEc:kap:jecgro:v:6:y:2001:i:4:p:263-83
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    Cited by:

    1. Pietro Peretto, 2008. "Effluent taxes, market structure, and the rate and direction of endogenous technological change," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 39(2), pages 113-138, February.
    2. Foellmi, Reto & Zweimüller, Josef, 2008. "Structural change, Engel's consumption cycles and Kaldor's facts of economic growth," Journal of Monetary Economics, Elsevier, vol. 55(7), pages 1317-1328, October.
    3. Reto Foellmi & Josef Zweim�ller, "undated". "Structural Change and the Kaldor Facts of Economic Growth," IEW - Working Papers 111, Institute for Empirical Research in Economics - University of Zurich.
    4. Zakaria Babutsidze, 2016. "Innovation, competition and firm size distribution on fragmented markets," Journal of Evolutionary Economics, Springer, vol. 26(1), pages 143-169, March.
    5. Giorgio Canarella & Stephen M. Miller, 2017. "The Determinants of Growth in the Information and Communication Technology (ICT) Industry: A Firm-Level Analysis," Working papers 2017-12, University of Connecticut, Department of Economics.
    6. repec:eee:ecmode:v:70:y:2018:i:c:p:259-271 is not listed on IDEAS
    7. Pedro Rui Mazeda Gil & Paulo Brito & Óscar Afonso, 2008. "A Model of Quality Ladders with Horizontal Entry," FEP Working Papers 296, Universidade do Porto, Faculdade de Economia do Porto.
    8. Laincz, Christopher A., 2005. "Market structure and endogenous productivity growth: how do R&D subsidies affect market structure?," Journal of Economic Dynamics and Control, Elsevier, vol. 29(1-2), pages 187-223, January.
    9. repec:bla:rdevec:v:21:y:2017:i:3:p:527-542 is not listed on IDEAS

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