Growth and ideas in a perfectly competitive world: A complement

IF 0.9 Q3 ECONOMICS
V. Boitier
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引用次数: 1

Abstract

In this short article, I build an idea-based growth model with perfect competition in a representative household economy. I obtain significant findings that confirm Boitier (2019). First, a competitive equilibrium, increasing returns to scale, and innovations can be tenable. For that, firms must raise capital from shareholders, and the production function must show decreasing returns to scale in the stock of ideas and in labor. Second, the developed idea-based growth model admits a balanced growth path similar to the one provided in an idea-based growth model with monopolistic competition. Whether innovations are competitive or thrive under monopolistic competition does not constitute an engine-driving long-run growth. Importantly, this reconciles Romer (1990, 2015) with Boldrin and Levine (2008).
在一个完全竞争的世界中成长和想法:补充
在这篇短文中,我在一个典型的家庭经济中建立了一个基于思想的完全竞争增长模型。我得到了证实Boitier(2019)的重要发现。首先,竞争均衡、规模收益递增和创新能够站得住脚。为此,企业必须从股东那里筹集资金,并且生产函数必须在思想和劳动力存量中显示出按比例递减的回报。第二,发达的思想增长模型承认了与垄断竞争的思想增长模型相似的均衡增长路径。创新是否具有竞争性,是否在垄断竞争下茁壮成长,并不构成推动长期增长的引擎。重要的是,这调和了Romer(1990,2015)与Boldrin和Levine(2008)。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
CiteScore
1.80
自引率
11.10%
发文量
18
期刊介绍: Economics and Business Letters is an open access journal that publishes both theoretical and empirical quality original papers in all economics and business fields. In addition, relevant discussions on current policy issues will be considered for the Policy Watch section. As general strategy of EBL, the journal will launch calls for papers for special issues on topics of interest, generally with invited guest editors. The maximum length of the letters is limited to 2,500 words.
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