TY  - JOUR
AU  - Helpman,Elhanan
TI  - Endogenous Macroeconomic Growth Theory
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 3869
PY  - 1993
Y2  - February 1993
UR  - http://www.nber.org/papers/w3869
L1  - http://www.nber.org/papers/w3869.pdf
N1  - Author contact info:
Elhanan Helpman
Department of Economics
Harvard University
1875 Cambridge Street
Cambridge, MA 02138
Tel: 617-495-4690
Fax: 617-495-7730
E-Mail: ehelpman@harvard.edu
AB  - The paper focuses on the innovation-based approach to endogenous growth. It begins by spelling out conditions for sustained long-run growth in neoclassical economies and uses these conditions as a standard of comparison for the conditions required to sustain long-run growth in economies with product innovation. It presents two models of product innovation that can sustain growth in the long run. The models share the same fundamental mechanism of economic growth. They are used to derive a variety of implications relating structural features to long-run growth rates and they are then applied to a number of policy issues. The usefulness of the approach represented by these models is examined by considering a number of issues, such as unemployment and trade relations.
ER  -