Evolutionary Micro-founded Technical Changeand The Kaldor-Verdoorn Law:Estimates from an Artificial World

This paper proposes to identify the micro-level sources for the dy-namic increasing returns occurring at an aggregate level. The paperreverts to a micro model of technological change in-line with the evolu-tionary literature on industrial dynamics. The data generated throughnumerical simulations are used to identify the sources of increasing re-turns as measured by the Kaldor-Verdoorn Law.[...]

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Year of publication:	2009-04-01
Authors:	Lorentz, André
Institutions:	Max-Planck-Institut für Ökonomik <Jena> / Abteilung Evolutionsökonomik
Subject:	Neue Medien \| Entwicklung \| Erlös \| masterpiece effect

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1 Introduction
2 An Evolutionary model of technical change
2.1 Dening the population: Firms characteristics
2.2 Dening rms' performance: The selection mechanisms
2.3 Changes in Firms characteristics: The mutationmechanisms
3 Simulation Results
3.1 Parameterisation and Preliminary Analysis
3.2 The Kaldor-Verdoorn Law as an emergent property
4 Concluding Remarks
References

Persistent link: https://www.econbiz.de/10005867742