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• W2171121775 abstract "The Dixit–Stiglitz (1977) model of monopolistic competition has been the essential building block for the new generation of growth models that was developed by Romer (1990) and others. It is a well-known property of neoclassical theory that exogenous forces ultimately drive growth. By relying on perfect competition neoclassical growth theory could not model productivity growth and technical change as endogenous variables. R&D efforts lead to increases in productivity, but typically R&D expenditures are a fixed cost, which can be recouped only if firms make profits." @default.
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• W2171121775 date "2001-01-05" @default.
• W2171121775 modified "2023-10-01" @default.
• W2171121775 title "Monopolistic competition and economic growth" @default.
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• W2171121775 doi "https://doi.org/10.1017/cbo9780511492273.015" @default.
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