Common markets, economic growth, and creative destruction
نویسندگان
چکیده
منابع مشابه
Common Markets, Economic Growth, and Creative Destruction
Economic integration is examined in a multi-economy Schumpeterian growth model where economies differ in their research environment, and consequently in the productivity of R&D. We show that economies with more or less the same productivity of R&D integrate. In equilibrium, there can be many common markets with different growth rates as well as stagnating economies with decreasing relative inco...
متن کاملEconomic Integration, Union Power, and Growth with Creative Destruction
We construct a Schumpeterian growth model of a common market with following properties. Households can stay as workers or become researchers at some cost. Workers are employed in production and researchers in R&D. Workers are unionized. Intermediate goods are substitutes and their producers are strategically interdependent. The main findings are as follows. Both union power and economic integra...
متن کاملIntegration, Wage Bargaining, and Growth with Creative Destruction
We construct a Schumpeterian growth model of a common market with following properties. Households can stay as workers or become researchers at some cost. Workers are employed in production and researchers in R&D. Workers are unionized. A larger common market means a wider variety of products and more intensive goods market competition. The main findings are as follows. If the common market is ...
متن کاملCapital Accumulation in a Model of Growth and Creative Destruction
_________________________________________________________________________ Capital accumulation and creative destruction is modeled together with risk-averse households. The novel aspect—risk-averse households—allows to use well-known models not only for analyzing long-run growth as in the literature but also short-run fluctuations. The model remains analytically tractable due to a very convenie...
متن کاملLegal Origins and Creative Destruction
Building on a model of endogenous innovation à la Romer, we analyze the link between legal institutions, innovation and growth. As in Anderlini, Felli and Riboni (2007), we suppose that law-makers are benevolent and we compare two legal systems: a rigid system, where an uncontingent law is written in a statute ex ante (that is, before knowing the state of the technology that will take place) an...
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ژورنال
عنوان ژورنال: Journal of Economics
سال: 2005
ISSN: 0931-8658
DOI: 10.1007/bf03051800