Arnold, Lutz G. (1998) Growth, Welfare, and Trade in an Integrated Model of Human-Capital Accumulation and Research. Journal of Macroeconomics 20 (1), pp. 81-105.
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Abstract
R&D-based models of growth predict an unrealistic degree of responsiveness of long-run growth rates to policy changes. The present paper “exogenizes” the equilibrium growth rate in the Grossman-Helpman model by endogenizing human capital along the lines proposed by Uzawa and Lucas: the pace of long-run growth is unaffected by R&D subsidies, flat-rate taxes, basic research, and—in highly developed ...
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| Item type: | Article | ||||
|---|---|---|---|---|---|
| Date: | 1998 | ||||
| Institutions: | Business, Economics and Information Systems > Institut für Volkswirtschaftslehre und Ökonometrie > Lehrstuhl für Theoretische Volkswirtschaft (Prof. Dr. Lutz Arnold) | ||||
| Identification Number: |
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| Dewey Decimal Classification: | 300 Social sciences > 330 Economics | ||||
| Status: | Published | ||||
| Refereed: | Yes, this version has been refereed | ||||
| Created at the University of Regensburg: | Unknown | ||||
| Item ID: | 15546 |
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