Emergence of New Industries and Endogenous Growth Cycles

Ryo Horii

ISER Discussion Paper from Institute of Social and Economic Research, The University of Osaka

Abstract: This paper constructs a growth model in which monopolistically competing firms choose the characteristic of their own product from an unbounded product space. While consumers wish to satisfy various needs by purchasing a diverse range of goods, production costs are lower for those goods that are more similar to existing ones because of spillover effects in the lesrning-by-doing process.

Date: 2000-01
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Persistent link: https://EconPapers.repec.org/RePEc:dpr:wpaper:0510

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