introducing ecological innovations to the economy. The original vision of the economic evolution determined by innovation was …

We study innovation and the resulting Schumpeterian economic growth that this innovation gives rise to in a model with … balanced growth path (BGP) allocations and the equilibrium of interest. Second, we stipulate the form of the innovation … circumstances in which there is either too much or too little innovation in (i) the ith region, (ii) the aggregate economy of N>2 …

deterministic model, R&D in time surely leads to an innovation in time In this setting, we show that relative to the balanced growth … innovation and a higher growth rate. Next, in the stochastic model, R&D in time probabilistically leads to an innovation in time … increases the average growth rate and the average unemployment. Creative Destruction ; Dynamic ; Entrepreneur ; Innovation …

. In the deterministic model, R&D in time t surely leads to an innovation in time t þ 1. In this setting, the authors show … hence achieves a larger size of innovation and a higher growth rate. Next, in the stochastic model, R&D in time t … probabilistically leads to an innovation in time t 1. In this setting, the authors first define the equilibrium and the steady state BGP …