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 … little innovation in (i) the ith region, (ii) an aggregate economy of N>2 regions and (iii) an aggregate economy of N=2 …

constant relative risk aversion preferences, there are negative externalities in innovation, and there are three kinds of …

regulations, the resulting decision by a polluting firm to upgrade its capital stock, and the impact of innovation on this … in innovation on the polluting firm's steady-state capital stock. Fourth, they analyze the impact of an anticipated … increase in innovation on the polluting firm's steady-state capital stock. Finally, the authors discuss the relationship …

. In the deterministic model, R&D in time t surely leads to an innovation in time t + 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 …

. In the deterministic model, R&D in time t surely leads to an innovation in time t + 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 …