1.研讨论文

A Model of Growth Through Creative Destruction (Econometrica. Aghion and Howitt. 1992)

2.主讲人

陈健英（中经管2023级博士生）

3.论文简介

A model of endogenous growth is developed in which vertical innovations, generated by a competitive research~stationary equilibria, in which research employment is constant and GNP follows a random walk with drift, although under some circumstances cyclical equilibria also exist. Both the average growth rate and the variance of the growth rate are increasing functions of the size of innovations, the size of the skilled labor force, and the productivity of research as measured by a parameter indicating the effect of research on the Poisson arrival rate of innovations; and decreasing functions of the rate of time preference of the representative individual. Under laissez faire the economy's growth rate may be more or less than optimal because, in addition to the appropriability and intertemporal spillover effects of other endogenous growth models, which tend to make growth slower than optimal, the model also has effects that work in the opposite direction. In particular, the fact that private research firms do not internalize the destruction of rents generated by their innovations introduces a business-stealing effect similar to that found in the partial-equilibrium patent race literature. When we endogenize the size of innovations we find that business stealing also makes innovations too small.

4.时间

7月20日18:30-21:30

5.地点

学术会堂712

6.主持人/点评老师

王忏（金融学院），明洋（创新发展学院中国经济与管理研究院）

7.活动对象

创新发展学院、金融学院学生

8.人数规模

30人

9.主办单位

创新发展学院中国经济与管理研究院、金融学院联合主办