A Model of Growth with Intertemporal Knowledge Externalities, Augmented with Contemporaneous Knowledge Externalities

Mário A. P. M. Silva ()
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Mário A. P. M. Silva: Faculdade de Economia, Universidade do Porto

FEP Working Papers from Universidade do Porto, Faculdade de Economia do Porto

Abstract: The present model is essentially Romer’s (1990) model of endogenous growth with intertemporal knowledge externalities, augmented with contemporaneous knowledge externalities to give a richer explanation of the growth process. Both types of knowledge spillovers seem essential to capturing the features of knowledge in a model of growth. Introducing synchronic complementarities and knowledge externalities across inventive firms immediately creates the possibility of multiple equilibria and threshold effects in the present model. Another advantage of this theoretical formulation is that it allows for an analysis of the effects on steady-state growth of a variety of technology policies relying on changing knowledge complementarities parameters.

Keywords: Endogenous growth; innovation; knowledge complementarities; knowledge externalities; general equilibrium (search for similar items in EconPapers)
Pages: 23 pages
Date: 2009-03
New Economics Papers: this item is included in nep-cse, nep-dge, nep-fdg and nep-knm
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Persistent link: https://EconPapers.repec.org/RePEc:por:fepwps:315

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