Leisure and innovation in horizontal R&D-based growth
Spyridon Boikos,
Alberto Bucci () and
Thanasis Stengos
Economic Modelling, 2022, vol. 107, issue C
Abstract:
In this paper we try to investigate, under weak spillover effects in the R&D sector, whether leisure time can act as an externality that promotes innovation. More specifically, we set up and test a horizontal R&D-based growth model with endogenous labor supply where leisure time may enhance inventors’ productivity and therefore have (under specific conditions) positive long run effects on the accumulation of new disembodied knowledge. Our main result in the theoretical model which is confirmed empirically is that leisure time can be beneficial for innovation in situations where there are weak spillovers arising from past ideas in the invention of new ones.
Keywords: Leisure externalities; Multisector growth models; R&D and innovation; Patents; Endogenous labor supply; Spillovers; TFP; Panel data (search for similar items in EconPapers)
JEL-codes: C23 E24 J24 O31 O41 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)
Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0264999321003199
Full text for ScienceDirect subscribers only
Related works:
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:eee:ecmode:v:107:y:2022:i:c:s0264999321003199
DOI: 10.1016/j.econmod.2021.105730
Access Statistics for this article
Economic Modelling is currently edited by S. Hall and P. Pauly
More articles in Economic Modelling from Elsevier
Bibliographic data for series maintained by Catherine Liu ().