Endogenous technological change: a note on stability

被引：20

作者：

Arnold, LG ^{[1
]}

机构：

[1] Univ Dortmund, Dept Econ, D-44227 Dortmund, Germany

来源：

ECONOMIC THEORY | 2000年 / 16卷 / 01期

关键词：

R&D; endogenous growth; saddle-point stability; transitional dynamics;

D O I：

10.1007/s001990050335

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper demonstrates that the steady-state solution of the optimal-growth problem in Romer's (1990) model of endogenous technological change is globally saddle-point stable. Surprisingly, the proof of this result is trivial. Interest in the optimal growth path is justified by the fact that there is a (unique) combination of production and R&D subsidies by means of which the optimal growth path is attained as a market equilibrium.

引用

页码：219 / 226

页数：8

共 12 条

[1]

[Anonymous], [No title captured]

[2]

ARNOLD L, 1997, Z WIRTSCHAFTS SOZIAL, V117, P197

[3] Growth, welfare, and trade in an integrated model of human-capital accumulation and research [J].