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Authors
Advisor(s)
Abstract(s)
This article studies a model with physical and human capital accumulation and varieties. The model includes several distortions: duplication effects, spillovers, creative destruction, surplus appropriability, and an erosion effect. We show that the duplication effect in R&D is essential to make the model replicate several stylized facts linked with R&D. We evaluate the distance to the optimal solution, comparing the strength of each distortion.
Description
Keywords
Endogenous growth models Convergence Distortions
Pedagogical Context
Citation
Sequeira, Tiago Neves (2001). "Facts and distortions in an endogenous growth model with physical capital, human capital and varieties". Portuguese Economic Journal, 11(3):171-188
Publisher
Springer Verlag