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A Welfare Analysis of Growth Models with Endogenous Innovation


  • William Schworm


In this paper, I study the welfare properties of growth models with endogenous innovation, knowledge externalities, and monopoly pricing of new goods. Since useful policy prescriptions cannot be inferred from a balanced growth analysis, welfare is analyzed for transition paths. I provide a general comparison of the market equilibrium path and the optimal path for any initial conditions. To elicidate the welfare properties of the model, I present a constrained optimality result for the market equilibriu

Suggested Citation

  • William Schworm, 2004. "A Welfare Analysis of Growth Models with Endogenous Innovation," Econometric Society 2004 Australasian Meetings 311, Econometric Society.
  • Handle: RePEc:ecm:ausm04:311

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    More about this item


    welfare; growth; innovation;

    JEL classification:

    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity


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