Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/185825 
Year of Publication: 
2017
Series/Report no.: 
WWZ Working Paper No. 2017/05
Publisher: 
University of Basel, Center of Business and Economics (WWZ), Basel
Abstract: 
This paper combines horizontal and vertical innovations to generate an endogenous growth model allowing for structural change as an endogenous phenomenon. Every industry is profitable only for a limited period of time, making the effective time of existence of the technology endogenous and finite. We find that in such an economy endogenous structural change is the source of ongoing economic growth. Further, the range of existing sectors stays constat as well as growth rates as long as the technologies are symmetric.
Subjects: 
Endogenous Growth
Creative Destruction
Arrow Replacement Effect
Endogenous Structural Change
Horizontal Innovation
Endogenous Patents
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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