Endogenous fluctuations with procyclical R&D

Shunsuke Shinagawa*

*この研究の対応する著者

    研究成果: Article査読

    3 被引用数 (Scopus)

    抄録

    The literature on endogenous growth cycles predicts the countercyclical allocation of resources to R&D. However, this prediction is not supported by empirical studies. This study considers the R&D-based growth model with endogenous fluctuations introducing population growth and a negative externality that affects the productivity of R&D. We show that this simple modification makes R&D investment procyclical along sustained business cycles using both an overlapping generation framework and an infinitely-lived agent framework.

    本文言語English
    ページ(範囲)274-280
    ページ数7
    ジャーナルEconomic Modelling
    30
    1
    DOI
    出版ステータスPublished - 2013 1

    ASJC Scopus subject areas

    • 経済学、計量経済学

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