Optimal growth through product innovation
نویسندگان
چکیده
منابع مشابه
Optimal Growth Through Product Innovation
In Lentz and Mortensen (2005), we formulate and estimate a market equilibrium model of endogenous growth through product innovation in the spirit of Klette and Kortum (2004). In this paper, we provide a quantitative solution to the social planner’s problem in the modeled environment. We find that the optimal growth rate is over three times larger than its value in market equilibrium and that th...
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An Empirical Model of Growth Through Product Innovation Productivity dispersion across firms is large and persistent, and worker reallocation among firms is an important source of productivity growth. The purpose of the paper is to estimate the structure of an equilibrium model of growth through innovation that explains these facts. The model is a modified version of the Schumpeterian theory of...
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ژورنال
عنوان ژورنال: Review of Economic Dynamics
سال: 2016
ISSN: 1094-2025
DOI: 10.1016/j.red.2015.12.002