Economic growth in a world of ideas: the US and the leading European countries |
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| Authors: | Rafael Myro Patricio Pérez Alberto Colino |
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| Affiliation: | 1. Facultad de Económicas, Departamento de Economía Aplicada II , Universidad Complutense de Madrid , Campus de Somosaguas s/n, 28223, Pozuelo de Alarcón, Madridr.myro@ccee.ucm.es;3. Facultad de Económicas y Empresariales, Universidad de Cantabria , Avda. de los Castros s/n, 39005, Santander;4. Essex University , third year |
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| Abstract: | This article discusses the ideas creation model that was initially formulated by Romer and later generalized and empirically applied by Jones. In particular, we generalize Jones' model to include catching up to a technological frontier, which improves the empirical results for European countries, and ensures convergence to the technological frontier in the steady state |
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