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Using and Producing Ideas in Computable Endogenous Growth

Author

Listed:
  • K. Vela Velupillai

    (Department of Economics, National University of Ireland, Galway)

Abstract

It is shown that Paul Romer's suggestion to model algorithmically the use and production of ideas in an endogenous growth model is formally feasible. Such a modelling exercise imparts a natural evolutionary flavour to growth models. However, it is also shown that the policy implications are formally indeterminate in a precise and effective sense.

Suggested Citation

  • K. Vela Velupillai, 2005. "Using and Producing Ideas in Computable Endogenous Growth," Working Papers 0097, National University of Ireland Galway, Department of Economics, revised 2005.
  • Handle: RePEc:nig:wpaper:0097
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    File URL: http://www.economics.nuig.ie/resrch/paper.php?pid=104
    File Function: First version, 2005
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    File URL: http://www.economics.nuig.ie/resrch/paper.php?pid=104
    File Function: Revised version, 2005
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    More about this item

    Keywords

    endogenous growth; algorithmic ideas; computable growth;

    JEL classification:

    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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