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The Government as a Promoter of Technological Change: An Endogenous Growth Model with Labor, Money and Debt

Author

Listed:
  • Salvador Rivas-Aceves

    (Investigador, Departamento de Economía, Área de Empresas, Finanzas e Innovación, Universidad Autónoma Metropolitana, Unidad Azcapotzalco, México, D.F.)

  • Francisco Venegas-Martínez

    (Profesor-investigador, Escuela Superior de Economía, Instituto Politécnico Nacional, México, D.F.)

Abstract

In the framework of a monetary economy with labor and debt (public and private), the effects of government as a promoting agent to boost up technological change are studied. Through a model of endogenous growth, the growth rates of all sectors are characterized in the perfect foresight equilibrium. Moreover, the impact on economic welfare of taxes and government spending to impulse technological change is assessed. Finally, in a simulation exercise, the initial optimal level of government spending (which maximizes welfare), in which the government should incur to adequately address technological change, is examined.

Suggested Citation

  • Salvador Rivas-Aceves & Francisco Venegas-Martínez, 2010. "The Government as a Promoter of Technological Change: An Endogenous Growth Model with Labor, Money and Debt," Economía Mexicana NUEVA ÉPOCA, CIDE, División de Economía, vol. 0(1), pages 91-117, January-J.
    • Handle: RePEc:emc:ecomex:v:19:y:2010:i:1:p:91-117
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    More about this item

    Keywords

    endogenous growth; government spending; technological change; money; debt.;
    All these keywords.

    JEL classification:

    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy
    • O42 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Monetary Growth Models

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