Endogenous Technological Progress and Infinite Economic Growth

Karl Farmer and Matthias Schelnast ()
Additional contact information
Matthias Schelnast: University of Graz

Chapter 6 in Growth and International Trade, 2013, pp 137-150 from Springer

Abstract: Abstract This chapter presents a neo-Schumpeterian OLG model of self-propelled growth of intermediate-product innovations and over time rising GDP rates. A one-period patent system generates monopoly rents for producers of recently innovated intermediate goods which serve together with competitively produced intermediates as inputs in final-good production. The rising variety of intermediates reduces the unit cost and the price of the final good which enables the financing of an ever-increasing rate of intermediate-product innovations by the savings of younger households. Growth in the OLG model of this chapter is attributed to a continuous innovation process driven by rational choices of short-lived agents.

Keywords: Intermediate Product; Profit Maximization; Intermediate Good; Imperfect Competition; Patent System (search for similar items in EconPapers)
Date: 2013
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
Chapter: Endogenous Technological Progress and Infinite Economic Growth (2021)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sptchp:978-3-642-33669-0_6

Ordering information: This item can be ordered from
http://www.springer.com/9783642336690

DOI: 10.1007/978-3-642-33669-0_6

Access Statistics for this chapter

More chapters in Springer Texts in Business and Economics from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().