ON DYNAMIC EFFICIENCY IN A GROWTH-MODEL WITH INCREASING RETURNS

被引：1
|
作者：
KOHN, M [1 ]
MARION, N [1 ]
机构：
[1] DARTMOUTH COLL,DEPT ECON,HANOVER,NH 03755
来源：
ECONOMICS LETTERS | 1993年 / 41卷 / 01期
关键词：
D O I：
10.1016/0165-1765(93)90118-V
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
The production externality at the heart of the knowledge-based growth literature reverses the standard analysis of efficient capital accumulation. If the competitive equilibrium involves underinvestment relative to the social optimum, moving to the social optimum requires sacrifice by some in the standard decreasing returns case but requires no such sacrifice when there are knowledge spillovers.
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页码：93 / 98
页数：6
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