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| Author: | Alvarez-Pelaez, M. J. Groth, C. |
| Title: | Too little or too much R&D? |
| Journal: | European Economic Review
2005 : FEB, VOL. 49:2, p. 437-456 |
| Index terms: | R&D Product variety |
| Language: | eng |
| Abstract: | According to the first generation models of endogenous growth based on expanding product variety, the market economy unambiguously generates too little R&D. Later, by distangling returns to specialization from the market power parameter, it was shown that with sufficiently low returns to specialization too much R&D can occur. |
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