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Competition and Growth in a Vintage Knowledge Model

  • Peter Funk

This paper models the relationship between growth, technology-lifetime, entry, and competition in a vintage-knowledge model of endogenous growth and perfect competition. The model has a unique steady state REE equilibrium. Variations of R&D-efficiency lead to a negative relation between growth and vintage-lifetime and indicate a non-monotonic relation between growth and competition. A shift of population size and its growth rates have qualitatively different consequences here than in standard models. The extent of entry constitutes a buffer, neutralizing the effect of population size or population growth rates on per-capita income levels and growth rates.

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File URL: http://ockenfels.uni-koeln.de/fileadmin/wiso_fak/stawi-ockenfels/pdf/wp_series_download/wp0015.pdf
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Paper provided by University of Cologne, Department of Economics in its series Working Paper Series in Economics with number 15.

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Date of creation: 30 Jan 2005
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Handle: RePEc:kls:series:0015
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