We study innovation and the resulting Schumpeterian economic growth that this innovation gives rise to in a model with … balanced growth path (BGP) allocations and the equilibrium of interest. Second, we stipulate the form of the innovation … circumstances in which there is either too much or too little innovation in (i) the ith region, (ii) the aggregate economy of N>2 …

framework and a test on innovation data from several European cities. This framework is mainly built on the product life …

deterministic model, R&D in time surely leads to an innovation in time In this setting, we show that relative to the balanced growth … innovation and a higher growth rate. Next, in the stochastic model, R&D in time probabilistically leads to an innovation in time … increases the average growth rate and the average unemployment. Creative Destruction ; Dynamic ; Entrepreneur ; Innovation …