The paper utilizes a model of endogenous growth with vertical innovation (´a la Aghion-Howitt) to examine how the inclusion of a production related pollution externality affects the prospect for long-run growth of a closed economy. It is derived that the social optimum exhibits the...

We examine human capital's contribution to economy-wide technological progress through two channels { im- itation and innovation} innovation being more skilled-intensive than innovation. We develop a growth model considering an endogenous ability-driven skill acquisition decision of an...

We examine human capital's contribution to economy-wide technological progress through two channels – imitation and innovation – innovation being more skill-intensive than imitation. We develop a growth model based on the endogenous ability-driven skill acquisition decision of an individual....

We examine human capital's contribution to economy-wide technological progress through two channels -- imitation and innovation -- innovation being more skilled-intensive than innovation. We develop a growth model considering an endogenous ability-driven skill acquisition decision of an...

An advanced economy relies on innovation activity for its further technology improvement. On the other hand a backward economy depends on both imitation from the world technology frontier and innovation activities - innovation being more skilled-intensive than imitation. In this paper I...