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In this chapter we argue that the endogenous growth model with quality-improving innovations provides a framework for analyzing the determinants of long-run growth and convergence that is versatile, simple and empirically useful. Versatile, as the same framework can be used to analyze how growth...
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); innovation returns are modeled as following an ex ante known probability distribution. By assuming that innovation outcomes are …
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); innovation returns are modeled as following an ex ante known probability distribution. By assuming that innovation outcomes are …
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