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economic theory to explain past growth, this unique book explores the fundamental relationship between thermodynamics (physical …
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R&D-based growth models are tested using US data for the period 1953-2014. A general growth model is developed which nests the model varieties of interest. The model implies a cointegrating relationship between multifactor productivity, research intensity, and employment. This relationship is...
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. For this purpose, we develop a novel long-run forecast framework based on enodogenous growth theory with human and fixed …
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