Estimating the dynamics of R&D-based growth models

Yuri Yatsenko, Raouf Boucekkine () and Natali Hritonenko

No 2008052, LIDAM Discussion Papers CORE from Université catholique de Louvain, Center for Operations Research and Econometrics (CORE)

Abstract: Several R&D-based models of endogenous economic growth are investigated under the Solow-like assumption of fixed allocation of resources across activities. We identify model parameters that lead to explosive dynamics and analyze various economic techniques to avoid it. The techniques include adding stricter constraints on model trajectories and limiting factors in technology equation. In particular, we demonstrate that our vintage version of the well known R&D-based model of economic growth (Jones, 1995) exhibits the same balanced dynamics as the original model.

Keywords: vintage capital models; endogenous technological change; R&D investment; explosive dynamics; nonlinear Volterra integral equations. (search for similar items in EconPapers)
JEL-codes: C60 E20 O40 (search for similar items in EconPapers)
Date: 2008-09-01
New Economics Papers: this item is included in nep-cse, nep-dge, nep-knm and nep-mac
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Related works:
Working Paper: Estimating the Dynamics of R&D-based Growth Models (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:cor:louvco:2008052

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