| Registro completo |
| Provedor de dados: |
AgEcon
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| País: |
United States
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| Título: |
ENDOGENOUS RECOMBINANT GROWTH
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| Autores: |
Tsur, Yacov
Zemel, Amos
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| Data: |
2008-02-29
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| Ano: |
2006
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| Palavras-chave: |
Knowledge generation
Combined ideas
Endogenous R&D
Balanced growth
Research Methods/ Statistical Methods
C61
O31
O41
|
| Resumo: |
We extend Weitzman's (1998) recombinant growth framework to include endogenous R&D decisions. The analysis is carried out in the (knowledge-capital) state space by means of two characteristic curves: one is identified as a turnpike along which growing economies evolve; the other attracts stagnating economies. Sustained growth depends on a condition relating the slopes of the characteristic curves as well as on a minimal endowment requirement. A growing economy reaches the turnpike at a most rapid R&D rate and evolves along it thereafter. In the long run, the rate of growth and the income shares devoted to R&D, saving and consumption approach constant values that depend on the asymptotic characteristic slopes.
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| Tipo: |
Working or Discussion Paper
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| Idioma: |
Inglês
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| Identificador: |
27324
http://purl.umn.edu/7135
|
| Relação: |
Hebrew University of Jerusalem>Department of Agricultural Economics and Management>Discussion Papers
Discussion Paper
No. 2.06
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| Formato: |
32
|
