期刊名称：CORE Discussion Papers / Center for Operations Research and Econometrics (UCL), Louvain
出版年度：2008
卷号：1
出版社：Center for Operations Research and Econometrics (UCL), Louvain
摘要：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 wellknown
R&D-based model of economic growth (Jones, 1995) exhibits the same balanced
dynamics as the original model.
关键词：vintage capital models, endogenous technological change, R&D investment,
explosive dynamics, nonlinear Volterra integral equations.
