Competition and Growth in a Vintage Knowledge Model
Peter Funk ()
No 15, Working Paper Series in Economics from University of Cologne, Department of Economics
This paper models the relationship between growth, technology-lifetime, entry, and competition in a vintage-knowledge model of endogenous growth and perfect competition. The model has a unique steady state REE equilibrium. Variations of R&D-efficiency lead to a negative relation between growth and vintage-lifetime and indicate a non-monotonic relation between growth and competition. A shift of population size and its growth rates have qualitatively different consequences here than in standard models. The extent of entry constitutes a buffer, neutralizing the effect of population size or population growth rates on per-capita income levels and growth rates.
Keywords: Endogenous Growth; Vintage-Model; Perfect Competition (search for similar items in EconPapers)
JEL-codes: D40 D90 O30 O40 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dev, nep-dge and nep-mic
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Persistent link: http://EconPapers.repec.org/RePEc:kls:series:0015
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