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Human Capital Accumulation in R&D-based Growth Models

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  • Claudio, MATTALIA

Abstract

This paper considers a multi-sectoral endogenous growth model, that reproduces the essental aspects of an ‘ICT-based economy’, in which a central role is played by human capital accumulation. Indeed, households also invest in human capital through schooling, and this turns out to be the thrue engine of growth. Furthermore, this model displays no scale effect and the stimulations allow to get interesting results concerning the link between market power and growth, the presence of ‘imbalance effects’ and the consequences of different types of subsidies

Suggested Citation

  • Claudio, MATTALIA, 2005. "Human Capital Accumulation in R&D-based Growth Models," Discussion Papers (ECON - Département des Sciences Economiques) 2005046, Université catholique de Louvain, Département des Sciences Economiques.
  • Handle: RePEc:ctl:louvec:2005046
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    File URL: http://sites.uclouvain.be/econ/DP/IRES/2005-46.pdf
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    References listed on IDEAS

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    1. Luis A. Rivera-Batiz & Paul M. Romer, 1991. "Economic Integration and Endogenous Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 106(2), pages 531-555.
    2. Dale W. Jorgenson & Kevin J. Stiroh, 2000. "Raising the Speed Limit: U.S. Economic Growth in the Information Age," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 31(1), pages 125-236.
    3. Krusell, Per, 1998. "Investment-Specific R&D and the Decline in the Relative Price of Capital," Journal of Economic Growth, Springer, vol. 3(2), pages 131-141, June.
    4. Greenwood, Jeremy & Yorukoglu, Mehmet, 1997. "1974," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 46(1), pages 49-95, June.
      • Greenwood, J. & Yorukoglu, M., 1996. "1974," RCER Working Papers 429, University of Rochester - Center for Economic Research (RCER).
    5. Robert J. Gordon, 2000. "Does the "New Economy" Measure Up to the Great Inventions of the Past?," Journal of Economic Perspectives, American Economic Association, vol. 14(4), pages 49-74, Fall.
    6. Greenwood, Jeremy & Hercowitz, Zvi & Krusell, Per, 1997. "Long-Run Implications of Investment-Specific Technological Change," American Economic Review, American Economic Association, vol. 87(3), pages 342-362, June.
    7. Boyan Jovanovic & Jeremy Greenwood, 1999. "The Information-Technology Revolution and the Stock Market," American Economic Review, American Economic Association, vol. 89(2), pages 116-122, May.
    8. Jeremy Greenwood & Boyan Jovanovic, 2001. "Accounting for Growth," NBER Chapters,in: New Developments in Productivity Analysis, pages 179-224 National Bureau of Economic Research, Inc.
    9. Bart Hobijn & Boyan Jovanovic, 2000. "The information technology revolution and the stock market: preliminary evidence," Proceedings, Federal Reserve Bank of San Francisco, issue Apr.
    10. Greenwood, J. & Jovanovic, B., 1999. "The IT Revolution and the Stock Market," Working Papers 99-02, C.V. Starr Center for Applied Economics, New York University.
    11. Claudio MATTALIA, 2002. "Information Technologies, Economic Growth and Productivity Shocks," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 2002026, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    12. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
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    More about this item

    Keywords

    Information technology; endogenous growth; imbalance effect;

    JEL classification:

    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques

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