Citation:Velupillai,K.V. (2005) "Using and Producing Ideas in Computable Endogenous Growth" (Working Paper No. 0097) Department of Economics, National University of Ireland, Galway.
Abstract:
Using and Producing Ideas in Computable Endogenous Growth
It is shown that Paul Romer's suggestion to model algorithmically the use and production of ideas in an endogenous growth model is formally feasible. Such a modelling exercise imparts a natural evolutionary flavour to growth models. However, it is also shown that the policy implications are formally indeterminate in a precise and effective sense.
