@techreport{Stadler2006Education,
abstract = {We develop a dynamic general equilibrium model of education, quality and variety innovation, and scale-invariant growth. The early endogenous innovation-based growth models incorporate a scale e?ect predicting that larger economies are characterized by higher per capita growth rates. Recent models of semi-endogenous growth remove this scale e?ect but instead imply that economic growth depends proportionally on population growth. In contrast to the predecessor models, this paper argues that endogenous human-capital accumulation rather than an exogenously given continuing increase of the population is decisive for per capita growth. The consequence of the proposed integration of human capital accumulation into a two-R&D-sector model of quality and variety innovation is that education and innovation appear as twin-engines of growth and that steady state growth rates can be enhanced by subsidizing education. - education ; quality and variety innovation ; scale-invariant growth},
address = {T\"{u}bingen},
author = {Manfred Stadler},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {O2; O3; 330; Neue Wachstumstheorie; Produktqualit\"{a}t; Bildungsinvestition; Dynamisches Gleichgewicht; Allgemeines Gleichgewicht; Theorie},
language = {eng},
note = {urn:nbn:de:bsz:21-opus-24361},
number = {302},
publisher = {Univ., Wirtschaftswiss. Fak.},
title = {Education and innovation as twin-engines of growth},
type = {T\"{u}binger Diskussionsbeitrag},
url = {http://hdl.handle.net/10419/40323},
year = {2006}
}
