Endogenous growth theory ≈ Endogenous growth theory
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Innovation, Reallocation, and Growth Open
We build a model of firm-level innovation, productivity growth, and reallocation featuring endogenous entry and exit. A new and central economic force is the selection between high- and low-type firms, which differ in terms of their innova…
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Heterogeneous Markups, Growth, and Endogenous Misallocation Open
Markups vary systematically across firms and are a source of misallocation. This paper develops a tractable model of firm dynamics where firms' market power is endogenous and the distribution of markups emerges as an equilibrium outcome. M…
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Endogenous Production Networks Open
We develop a tractable model of endogenous production networks. Each one of a number of products can be produced by combining labor and an endogenous subset of the other products as inputs. Different combinations of inputs generate (prespe…
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Knowledge Accumulation, Privacy, and Growth in a Data Economy Open
We build an endogenous growth model with consumer-generated data as a new key factor for knowledge accumulation. Consumers balance between providing data for profit and potential privacy infringement. Intermediate good producers use data t…
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Innovation, automation, and inequality: Policy challenges in the race against the machine Open
The effects of automation on economic growth, education, and inequality are analyzed using an R&D-driven growth model with endogenous education in which high-skilled workers are complements to machines and low-skilled workers are substitut…
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Endogenous Technology Adoption and R&D as Sources of Business Cycle Persistence Open
We examine the hypothesis that the slowdown in productivity following the Great Recession was in significant part an endogenous response to the contraction in demand that induced the downturn. We motivate, develop and estimate a model with…
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Balanced Growth Despite Uzawa Open
The evidence for the United States points to balanced growth despite falling investment-good prices and a less-than-unitary elasticity of substitution between capital and labor. This is inconsistent with the Uzawa Growth Theorem. We extend…
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Financial development, human capital and its impact on economic growth of emerging countries Open
Purpose This paper aims to investigate the critical aspect of financial development, human capital and their interactive term on economic growth from the perspective of emerging economies. Design/methodology/approach Data set ranged from 2…
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Market Power and Innovation in the Intangible Economy Open
Productivity growth has stagnated over the past decade. This paper argues that the rise of intangible inputs (such as information technology) can cause a slowdown of growth through the effect it has on production and competition. I hypothe…
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Infectious diseases, human capital and economic growth Open
Stylized facts show there is a clustering of countries in three balanced growth paths characterized by differing income/growth, human capital and incidence of infectious diseases. To explain this, we develop a dynamic general equilibrium m…
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Dancing with the Stars: Innovation Through Interactions Open
International audience
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From Imitation to Innovation: Where Is All That Chinese R&D Going? Open
We construct an endogenous growth model with random interactions where firms are subject to distortions. The TFP distribution evolves endogenously as firms seek to upgrade their technology over time either by innovating or by imitating oth…
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Technological Changes in Economic Growth Theory: Neoclassical, Endogenous, and Evolutionary-Institutional Approach Open
The aim of the research in this paper is to analyse the issue of the treatment of the category of technological changes within the main aspects of economic growth theory. The analysis of the key positions of neoclassical theory (Solow), en…
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Patience and Comparative Development Open
This article studies the relationship between patience and comparative development through a combination of reduced-form analyses and model estimations. Based on a globally representative dataset on time preference in 76 countries, we docu…
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The Forces of Economic Growth: A Time Series Perspective Open
In economics, the emergence of New Growth Theory in recent decades has directed attention to an old and important problem: what are the forces of economic growth and how can public policy enhance them? This book examines major forces of gr…
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Seaports and Economic Growth: Panel Data Analysis of EU Port Regions Open
Seaports are an important factor in regional economies since their operations create positive effects on the economy. The application of new technologies and innovations is important for the successful operation of seaports; their use redu…
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Household consumer debt, endogenous money and growth: A supermultiplier-based analysis Open
The paper provides a simple theoretical framework to assess the macroeconomic implications of debt-fuelled consumption. In particular, the analysis is conducted through an extended super-multiplier model with endogenous credit money, which…
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The optimal inflation rate under Schumpeterian growth Open
To analyze the relationship between inflation and economic growth, we construct an endogenous growth model with creative destruction, incorporating sticky prices due to menu costs. Price changes reduce the reward for innovation and thus lo…
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The Relationship Between Growth and Economic Complexity: Evidence from Southeastern and Central Europe Open
The index of economic complexity is created by analyzing the relations between countries and the products they export. Constructed in such way, it defines the basis for the theory of economic complexity, which reflects the knowledge embedd…
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The complementary roles of human capital and institutional quality on natural resource - FDI—economic growth Nexus in the MENA region Open
A number of studies have examined the roles of natural resources endowment on economic prosperity (or otherwise). While doing this, some researchers have identified institutions (while some others have suggested human capital) as a conduit…
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A Literature Review of Human Capital and Economic Growth Open
This work aims to examine the relationship between human capital and economic growth. The study analyzes datasets from previous works, reviews previous literature, and draws some conclusions on human capital and economic growth. The paper …
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The Productivity Slowdown and the Declining Labor Share: A Neoclassical Exploration Open
We explore the possibility that a global productivity slowdown is responsible for the widespread decline in the labor share of national income.In a neoclassical growth model with endogenous human capital accumulation a la Ben Porath (1967)…
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Exogenous and Endogenous Growth Models: a Critical Review Open
The main divisions of the theoretical economic growth literature that we study today include exogenous and endogenous growth models that have transitioned through a number of notions and criticisms. Proponents of exogenous growth models ar…
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The Past and Future of Economic Growth: A Semi-Endogenous Perspective Open
The nonrivalry of ideas gives rise to increasing returns, a fact celebrated in Paul Romer's recent Nobel Prize. An implication is that the long-run rate of economic growth is the product of the degree of increasing returns and the growth r…
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Economic growth, international trade, and the depletion or conservation of renewable natural resources Open
Conservation of renewable natural resources and promotion of economic growth are both sustamable development goals. Here, we study the interdependency between economic growth, international trade, and the use of renewable natural resources…
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Financial frictions, trends, and the great recession Open
We study the causes behind the shift in the level of U.S. GDP following the Great Recession. To this end, we propose a model featuring endogenous productivity à la Romer and a financial friction à la Kiyotaki–Moore. Adverse financial distu…
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DOES FINTECH MATTER FOR INDONESIA’S ECONOMIC GROWTH? Open
This paper investigates the role of financial technology (FinTech) in propelling economic growth in Indonesia from 1998 to 2018. The FinTech industry employs a technology-based business model to provide financial services, including lendin…
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Trend and business cycles with <i>external markets</i>: Non‐capacity generating semi‐autonomous expenditures and effective demand Open
The Global Financial Crisis has underlined the importance of developments in the household sector to explaining macro patterns. Some recent papers have discussed the role of non‐capacity generating semi‐autonomous expenditures in growth th…
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Verdoorn’s law and productivity dynamics: An empirical investigation into the demand and supply approaches Open
According to Verdoorn’s law, productivity growth is endogenous to output growth, due to the existence of increasing returns to scale, broadly defined. Such an idea is at the root of both the endogenous growth theory and the Kaldorian appro…
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Public Policy, Innovation and Economic Growth: An Economic and Technological Perspective on Pakistan’s Telecom Industry Open
At a time of rapid technological advancements in every field, Pakistan must develop a comprehensive strategy for harnessing science and technology to promote economic growth on a sustained basis. In recent decades, successful economies hav…