@techreport{Lorentz2009Evolutionary,
abstract = {This paper proposes to identify the micro-level sources for the dynamic increasing returns occurring at an aggregate level. The paper reverts to a micro model of technological change in-line with the evolutionary literature on industrial dynamics. The data generated through numerical simulations are used to identify the sources of increasing returns as measured by the Kaldor-Verdoorn Law. In this respect we also aim to provide some plausible micro-foundations to this Law. The paper shows that: (i) Dynamic increasing returns appear as an emergent property of the model; (ii) micro-characteristics of technical change, as the amplitude and the frequency of changes, as well as selection mechanisms significantly shape these increasing returns.},
address = {Jena},
author = {Andr\'{e} Lorentz},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {B52; L11; O31; O33; O40; 330; Dynamic increasing returns; Kaldor-Verdoorn Law; technical change; evolutionary modelling},
language = {eng},
number = {0901},
publisher = {Max-Planck-Inst. f\"{u}r \"{O}konomik},
title = {Evolutionary micro-founded technical change and the Kaldor-Verdoorn Law: Estimates from an artificial world},
type = {Papers on economics and evolution},
url = {http://hdl.handle.net/10419/32644},
year = {2009}
}
