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Endogenous technological change: a note on stability

Arnold, Lutz G. (2000) Endogenous technological change: a note on stability. Economic Theory 16 (1), pp. 219-226.

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Abstract

This paper demonstrates that the steady-state solution of the optimal-growth problem in Romer's (1990) model of endogenous technological change is globally saddle-point stable. Surprisingly, the proof of this result is trivial. Interest in the optimal growth path is justified by the fact that there is a (unique) combination of production and R&D subsidies by means of which the optimal growth ...

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Item Type:Article
Date:2000
Institutions:Business, Economics and Information Systems > Institut für Volkswirtschaftslehre und Ökonometrie > Lehrstuhl für Theoretische Volkswirtschaft (Prof. Dr. Lutz Arnold)
Identification Number:
ValueType
10.1007/s001990050335DOI
Keywords:R&D, Endogenous growth, Saddle-point stability, Transitional dynamics
Subjects:300 Social sciences > 330 Economics
Status:Published
Refereed:Yes, this version has been refereed
Created at the University of Regensburg:Unknown
Owner: Universitätsbibliothek Regensburg
Deposited On:24 Jun 2010 05:01
Last Modified:24 Jun 2010 05:01
Item ID:15552
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