Uma extensão ao modelo schumpeteriano de crescimento endógeno [A new Schumpeterian endogenous growth model]
Marco Flávio Resende and
Flávio Gonçalves ()
Textos para Discussão Cedeplar-UFMG from Cedeplar, Universidade Federal de Minas Gerais
In the Schumpeterian endogenous growth model, random innovations (technical progress) are the main element that explains economic growth. Empirical analyses suggest there are two variables that explain the introduction of innovations: a randomly variable and a deterministic trend. In this paper we add a deterministic variable to the basic Schumpeterian growth model. The introduction of a determinist variable improves the basic model. The new model reproduces several styled facts, which are shown in simulations.
Keywords: endogenous growth; spatial agglomeration (search for similar items in EconPapers)
JEL-codes: O40 (search for similar items in EconPapers)
Pages: 20 pages
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Persistent link: https://EconPapers.repec.org/RePEc:cdp:texdis:td202
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