Linear Modelling And Simulation Of An Endogenous Growth Model With Heterogeneous Entrepreneurs
نویسندگان
چکیده
failure of international aid and expansionary internal economic policy. Experience attempts to solve this economic model of endogenous growth based on the Rivera-Batiz & Romer (1991) model that can explain how changes in the structure of payoffs of the economy can affect the rate of growth of output via the rate of change of the number of innovations. Different characterizations of heterogeneous entrepreneurs in an economy are modelled as well as their intention to innovate. We solve the entrepreneur problem using both analytical equations and simulation, and compare the solutions of a simplified linear problem in terms of future developments and applications.
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