Endogenous Macroeconomic Growth Theory / Elhanan Helpman.

Format:

Book

Author/Creator:

Helpman, Elhanan.

Contributor:

National Bureau of Economic Research.

Series:

Working Paper Series (National Bureau of Economic Research) no. w3869.

NBER working paper series no. w3869

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 1991.

Summary:

The paper focuses on the innovation-based approach to endogenous growth. It begins by spelling out conditions for sustained long-run growth in neoclassical economies and uses these conditions as a standard of comparison for the conditions required to sustain long-run growth in economies with product innovation. It presents two models of product innovation that can sustain growth in the long run. The models share the same fundamental mechanism of economic growth. They are used to derive a variety of implications relating structural features to long-run growth rates and they are then applied to a number of policy issues. The usefulness of the approach represented by these models is examined by considering a number of issues, such as unemployment and trade relations.

Notes:

Print version record

October 1991.