Creative destruction and policy in a vintage capital model of endogenous growth
Creative destruction and policy in a vintage capital model of endogenous growth
This paper extends a model of endogenous growth through the introduction of a component of knowledge that makes new technologies more productive than older vintages. Creative destruction or obsolescence of technologies underlies the growth process. In this setup, the growth effects of various policies are analyzed.
These policies include selective subsidies to firms that produce final output, a general lump-sum tax on final-output firms, and openness to trade with a less developed country. The results show the existence of growth effects that have not been studied
in previous literature.
endogenous growth, obsolescence, embodied technology, vintage models, policies
1-33
Mateos-Planas, Xavier
444f69bb-2ab3-4f56-be17-3f286f7700da
2004
Mateos-Planas, Xavier
444f69bb-2ab3-4f56-be17-3f286f7700da
Mateos-Planas, Xavier
(2004)
Creative destruction and policy in a vintage capital model of endogenous growth.
B.E. Journal of Macroeconomics, 4 (9), .
Abstract
This paper extends a model of endogenous growth through the introduction of a component of knowledge that makes new technologies more productive than older vintages. Creative destruction or obsolescence of technologies underlies the growth process. In this setup, the growth effects of various policies are analyzed.
These policies include selective subsidies to firms that produce final output, a general lump-sum tax on final-output firms, and openness to trade with a less developed country. The results show the existence of growth effects that have not been studied
in previous literature.
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Published date: 2004
Keywords:
endogenous growth, obsolescence, embodied technology, vintage models, policies
Identifiers
Local EPrints ID: 35234
URI: http://eprints.soton.ac.uk/id/eprint/35234
ISSN: 1555-0486
PURE UUID: 60b440d3-43a8-42d7-9231-87b15ebef440
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Date deposited: 16 May 2006
Last modified: 01 Jul 2022 16:51
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Author:
Xavier Mateos-Planas
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