Absorption in human capital and R&D effects in an endogenous growth model

Tiago Sequeira

Nova SBE Working Paper Series from Universidade Nova de Lisboa, Nova School of Business and Economics

Abstract: Until now, in models of endogenous growth with physical capital, human capital and R&D such as in Arnold [Journal of Macroeconomics 20 (1998)] and followers, steady-state growth is independent of innovation activities. We introduce absorption in human capital accumulation and describe the steady-state and transition of the model. We show that this new feature provides an effect of R&D in growth, consumption and welfare. We compare the quantitative effects of R&D productivity with the quantitative effects of Human Capital productivity in wealth and welfare.

Keywords: Human capital; absorption; endogenous growth; welfare (search for similar items in EconPapers)
JEL-codes: O15 O30 O41 (search for similar items in EconPapers)
Pages: 24 pages
Date: 2007
New Economics Papers: this item is included in nep-dge and nep-hrm
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Persistent link: https://EconPapers.repec.org/RePEc:unl:unlfep:wp507

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