Using and Producing Ideas in Computable Endogenous Growth

K. Vela Velupillai
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K. Vela Velupillai: Department of Economics, National University of Ireland, Galway

No 97, Working Papers from National University of Ireland Galway, Department of Economics

Abstract: It is shown that Paul Romer's suggestion to model algorithmically the use and production of ideas in an endogenous growth model is formally feasible. Such a modelling exercise imparts a natural evolutionary flavour to growth models. However, it is also shown that the policy implications are formally indeterminate in a precise and effective sense.

Keywords: endogenous growth; algorithmic ideas; computable growth (search for similar items in EconPapers)
JEL-codes: C63 D24 E10 O41 (search for similar items in EconPapers)
Date: 2005, Revised 2005
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