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- Title
Homogeneity masquerading as variety: the case of horizontal innovation models.
- Authors
Man-Seop Park
- Abstract
The literature on ‘horizontal innovation’ claims to analyse cases where unbounded endogenous growth comes from an increasing variety of intermediate goods. The present paper contends that a good sample of representative models in this literature share two essential assumptions regarding production technology, and that these assumptions together amount to assuming the homogeneity of various intermediate goods. In these models, there is no variety of intermediate goods to increase owing to R&D activities; what increases is a mass of a single homogeneous intermediate good.
- Subjects
ECONOMICS; ENDOGENOUS growth (Economics); INTERMEDIATE goods; HOMOGENEITY; RESEARCH &; development
- Publication
Cambridge Journal of Economics, 2007, Vol 31, Issue 3, p379
- ISSN
0309-166X
- Publication type
Article
- DOI
10.1093/cje/bel029