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Using and producing ideas in computable endogenous growth

  • K. Vela Velupillai

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    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.

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    File URL: http://www.unitn.it/files/16_05_velupillai.pdf
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    Paper provided by Department of Economics, University of Trento, Italia in its series Department of Economics Working Papers with number 0516.

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    Date of creation: 2005
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    Handle: RePEc:trn:utwpde:0516
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    1. Kumaraswamy Velupillai, 2003. "Essays on computable economics, methodology and the philosophy of science," Department of Economics Working Papers 0308, Department of Economics, University of Trento, Italia.
    2. Vela Velupillai, K., 2002. "Effectivity and constructivity in economic theory," Journal of Economic Behavior & Organization, Elsevier, vol. 49(3), pages 307-325, November.
    3. T. W. Swan, 1956. "ECONOMIC GROWTH and CAPITAL ACCUMULATION," The Economic Record, The Economic Society of Australia, vol. 32(2), pages 334-361, November.
    4. Swan, Trevor W, 2002. "Economic Growth," The Economic Record, The Economic Society of Australia, vol. 78(243), pages 375-80, December.
    5. Romer, Paul, 1993. "Idea gaps and object gaps in economic development," Journal of Monetary Economics, Elsevier, vol. 32(3), pages 543-573, December.
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