Memorandum,
Oslo University, Department of Economics

Abstract: We present a model of endogenous firm growth with R&D investment and stochastic innovation as the engines of growth. The model for firm growth is a partial equilibrium model drawing on the quality ladder models in the macro growth literature, but also on the literature on patent races and the discrete choice models of product differentiation.

Keywords: ECONOMIC GROWTH; RESEARCH AND DEVELOPMENT; INNOVATIONS

JEL-codes: O41; O31; O32

27 pages, 1998

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