Multiplicity and Stagnation under the Romer Model with Increasing Returns of R&D
Multiplicity and Stagnation under the Romer Model with Increasing Returns of R&D
复制标题
R 收益递增的 Romer 模型下的多重性和停滞
DOI：
10.1016/j.econmod.2018.10.003
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发表时间：
2019
影响因子：
4.7
通讯作者：
Shiro Kuwahara
中科院分区：
文献类型：
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作者：
A. S. Chakrabarti;L. Pichl;T. Kaizoji;A. Vie;S. Iwanaga;M. Kubo;A. Ruiz-Buforn;S. Alfarano;E. Camacho-Cuena;A. E. Biondo;I. Yagi;Y. Masuda;T. Mizuta;A. Ishikawa;S. Fujimoto;T. Mizuno;V. Venkatasubramanian;Y. Luo;R. Lahkar;J. Kukacka;T;Shiro Kuwahara
本研究建立了一个简单的增长模型，通过使用R&D效率的递增回报来解释停滞和非简单的增长模式。本研究采用了一种实验室-设备模型，即罗默模型，其中商品作为R&D投入。在这里，我们假设资本或耐用品作为R&D投入因素，并假设R&D效率是可变的。这种安排产生了三种稳定状态，即：无增长、低增长和高增长稳定状态。这些轨迹是可以跳跃的。相应地，获得了全局不确定性。结合数值分析，我们得到所有定态都是鞍形稳定的。然而，当R&D效率提高较小时，收敛到高增长率稳态的路径具有局部不确定性。
This study develops a simple growth model to explain stagnation and non-simple growth patterns by using increasing returns of R&D efficiency. The study adopts a type of the lab-equipment model, namely, the Romer model, where goods are used as R&D input. Here, we assume capital, or durable goods, as the R&D input factor, and R&D efficiency is assumed to be variable. This arrangement yields three steady states, namely: no-growth, low-growth, and high-growth steady states. These trajectories are jumpable. Accordingly, global indeterminacy is obtained. By uniting the numerical analysis, we obtain that all steady states are saddle stable. However, when the increasing R&D efficiency is small, the path converging to a high-growth-rate steady state shows local indeterminacy.