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Uma extensão ao modelo schumpeteriano de crescimento endógeno [A new Schumpeterian endogenous growth model]

Author

Listed:
  • Marco Flávio da Cunha Resende
  • Flávio Gonçalves

Abstract

In the Schumpeterian endogenous growth model, random innovations (technical progress) are the main element that explains economic growth. Empirical analyses suggest there are two variables that explain the introduction of innovations: a randomly variable and a deterministic trend. In this paper we add a deterministic variable to the basic Schumpeterian growth model. The introduction of a determinist variable improves the basic model. The new model reproduces several styled facts, which are shown in simulations.

Suggested Citation

  • Marco Flávio da Cunha Resende & Flávio Gonçalves, 2003. "Uma extensão ao modelo schumpeteriano de crescimento endógeno [A new Schumpeterian endogenous growth model]," Textos para Discussão Cedeplar-UFMG td202, Cedeplar, Universidade Federal de Minas Gerais.
    • Handle: RePEc:cdp:texdis:td202
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    File URL: https://www.cedeplar.ufmg.br/pesquisas/td/TD%20202.pdf
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    More about this item

    Keywords

    endogenous growth; spatial agglomeration;

    JEL classification:

    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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