TY - UNPB

T1 - Too much R & D

T2 - vertical differentiation in a model of monopolistic competition

AU - Kranich, Jan

N1 - Literaturverz. S. 23 - 24

PY - 2007

Y1 - 2007

N2 - This paper argues that the "scale effects" prediction of many recent R & D-based models of growth is inconsistent with the time-series evidence from industrialized economies. A modified version of the Romer model that is consistent with this evidence is proposed, but the extended model alters a key implication usually found in endogenous growth theory. Although growth in the extended model is generated endogenously through R & D, the long-run growth rate depends only on parameters that are usually taken to be exogenous, including the rate of population growth.

AB - This paper argues that the "scale effects" prediction of many recent R & D-based models of growth is inconsistent with the time-series evidence from industrialized economies. A modified version of the Romer model that is consistent with this evidence is proposed, but the extended model alters a key implication usually found in endogenous growth theory. Although growth in the extended model is generated endogenously through R & D, the long-run growth rate depends only on parameters that are usually taken to be exogenous, including the rate of population growth.

KW - Economics

M3 - Working papers

T3 - Working paper series in economics

BT - Too much R & D

PB - Institut für Volkswirtschaftslehre der Universität Lüneburg

CY - Lüneburg

ER -