Estimating the Dynamics of R&D-based Growth Models

Yuri Yatsenko, Raouf Boucekkine () and Hritonenko Natali

No 2008034, Discussion Papers (ECON - Département des Sciences Economiques) from Université catholique de Louvain, Département des Sciences Economiques

Abstract: Several R&D-based models of endogenous economic growth are investigated under the Solow-like assumption of fixed allocation of resources across activities. We identify model parameters that lead to explosive dynamics and analyse various economic techniques to avoid it. The techniques include adding stricter constraints on model trajectories and limiting factors in technology equation. In particular, we demonstrate that our vintage version of the well-known R&D-based model of economic growth (Jones, 1955) exhibits the same balanced dynamics as the original model

Keywords: Vintage capital models; Endogenous technological change; R&D investment; Explosive dynamics; Nonlinear Volterra integral equations (search for similar items in EconPapers)
JEL-codes: C60 E20 O40 (search for similar items in EconPapers)
Pages: 19
Date: 2008-12-01
New Economics Papers: this item is included in nep-cse, nep-dge and nep-knm
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Working Paper: Estimating the dynamics of R&D-based growth models (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:ctl:louvec:2008034

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