Resource title

An R&D-based model of multi-sector growth

Resource image

image for OpenScout resource :: An R&D-based model of multi-sector growth

Resource description

We develop a multi-sector general equilibrium model in which productivity growth is driven by the production of sector-specific knowledge. In the model, we find that long run differences in total factor productivity growth across sectors are independent of the parameters of the knowledge production function except for one, which we term the fertility of knowledge. Differences in R&D intensity are also independent of most other parameters. The fertility of knowledge in the capital sector is central to the growth properties of the model economy.

Resource author

Resource publisher

Resource publish date

Resource language

en

Resource content type

application/pdf

Resource resource URL

http://eprints.lse.ac.uk/3527/1/An_R%26D-based_model_of_multi-sector_growth%28CEP%29.pdf

Resource license