Effects of temporal heterogeniety in the Baumol-Wolff productivity growth model

In their utilization of R&D (information) output, different sectors of a heterogeneous industry display different reaction times. This paper analyzes the effects of this temporal heterogeniety on output and productivity for an extended version of the Baumol-Wolff model. Results include conditions implying persistent, non-decaying oscillations in the output and hence also in the productivity rate.

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Year of publication:	2000-02-21
Authors:	Sedaghat, Hassan
Published in:	Economic Theory. - Springer. - Vol. 15.2000, 2, p. 491-498
Publisher:	Springer
Subject:	Heterogeneous sectors \| Reaction times \| Productivity rate \| Higher order difference equation \| Instability \| Oscillation

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Extent:	application/pdf
Type of publication:	Article
Notes:	Received: January 26, 1998; revised version: January 8, 1999
Classification:	O47 - Measurement of Economic Growth; Aggregate Productivity ; O41 - One, Two, and Multisector Growth Models ; O32 - Management of Technological Innovation and R&D ; C62 - Existence and Stability Conditions of Equilibrium
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005155459