Effects of temporal heterogeniety in the Baumol-Wolff productivity growth model
In their utilization of R&D (information) output, different sectors of a heterogeneous industry display different reaction times. This paper analyzes the effects of this temporal heterogeniety on output and productivity for an extended version of the Baumol-Wolff model. Results include conditions implying persistent, non-decaying oscillations in the output and hence also in the productivity rate.
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Volume (Year): 15 (2000)
Issue (Month): 2 ()
|Note:||Received: January 26, 1998; revised version: January 8, 1999|
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