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A Model of Growth with Intertemporal Knowledge Externalities, Augmented with Contemporaneous Knowledge Externalities

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  • Mário A. P. M. Silva

    (Faculdade de Economia, Universidade do Porto)

Abstract

The present model is essentially Romer’s (1990) model of endogenous growth with intertemporal knowledge externalities, augmented with contemporaneous knowledge externalities to give a richer explanation of the growth process. Both types of knowledge spillovers seem essential to capturing the features of knowledge in a model of growth. Introducing synchronic complementarities and knowledge externalities across inventive firms immediately creates the possibility of multiple equilibria and threshold effects in the present model. Another advantage of this theoretical formulation is that it allows for an analysis of the effects on steady-state growth of a variety of technology policies relying on changing knowledge complementarities parameters.

Suggested Citation

  • Mário A. P. M. Silva, 2009. "A Model of Growth with Intertemporal Knowledge Externalities, Augmented with Contemporaneous Knowledge Externalities," FEP Working Papers 315, Universidade do Porto, Faculdade de Economia do Porto.
    • Handle: RePEc:por:fepwps:315
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    Keywords

    Endogenous growth; innovation; knowledge complementarities; knowledge externalities; general equilibrium;
    All these keywords.

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