The level of R&D spending in the variety-based endogenous growth model

We show that equilibrium endogenous growth may be excessive in the variety-based endogenous growth model à la Romer (1990). This result is obtained by relaxing the assumption on the constant elasticity of the demand function for intermediate goods. © 2001 University of Venice.

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Bibliographic Details
Published in:Research in economics 2001-09, Vol.55 (3), p.291-303
Main Author: Glachant, Jérôme
Format: Article
Language:English
Subjects:
Economics and Finance
Humanities and Social Sciences
Online Access:Get full text
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Description
Summary:We show that equilibrium endogenous growth may be excessive in the variety-based endogenous growth model à la Romer (1990). This result is obtained by relaxing the assumption on the constant elasticity of the demand function for intermediate goods. © 2001 University of Venice.
ISSN:1090-9443
1090-9451
DOI:10.1006/reec.2000.0256