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Ideas and Growth
Article first published online: 23 DEC 2008
DOI: 10.1111/j.1468-0335.2008.00748.x
© The London School of Economics and Political Science 2008
Additional Information
How to Cite
LUCAS, R. E. (2009), Ideas and Growth. Economica, 76: 1–19. doi: 10.1111/j.1468-0335.2008.00748.x
Publication History
- Issue published online: 23 DEC 2008
- Article first published online: 23 DEC 2008
- Final version received 10 July 2008.
Vol. 77, Issue 307, 611, Article first published online: 4 JUN 2010
- Abstract
- Article
- References
- Cited By
This paper introduces and partially develops a new model of endogenous technological change, viewed as the product of a class of problem-solving producers. The model, based on earlier work by Eaton and Kortum, is built up from the premise that all knowledge resides in the head of some individual person and the knowledge of a firm, or economy, or any group of people is simply the knowledge of the individuals that comprise it. The model is applied to an economy with a cohort structure. A calibration of the model using cross-section earnings data, in addition to aggregate GDP growth, is considered.