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Title: An endogenous growth model with R&D uncertainty
Other Titles: Nei sheng zeng zhang mo xing yu yan fa bu que ding xing
Authors: Liu, Fangge (劉舫舸)
Department: Department of Economics and Finance
Degree: Master of Philosophy
Issue Date: 2010
Publisher: City University of Hong Kong
Subjects: Endogenous growth (Economics)
Economic development -- Mathematical models.
Uncertainty -- Mathematical models.
Technological innovations -- Mathematical models
Notes: CityU Call Number: HD75.5 .L58 2010
v, 69 leaves : ill. 30 cm.
Thesis (M.Phil.)--City University of Hong Kong, 2010.
Includes bibliographical references (leaves 66-69)
Type: thesis
Abstract: This thesis investigates the interplay between uncertainty, technological innovations, and economic growth in an overlapping-generations model. By introducing random shocks into the process of an expanding variety of intermediate products, the analysis provides insight into the potential connection between research and development (R&D) uncertainty and economic growth in a stochastic version of Romer's model of technological change. Overall, the thesis presents a new perspective on studying the effects of short-run shocks on long-run growth through R&D activities. The comparative analyses show that long-run mean growth is sensitive to factors such as rate of intertemporal substitution, variance of exogenous shocks, and persistence of shocks.
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