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- W3126001877 abstract "This paper studies endogenous growth driven by an expanding variety of product where lenders limit credit up to the collateralizable value of existing patents. Due to RD (ii) the steady state aggregate debt/patent ratio is below the leverage ceiling due to the composition of current versus future financial constraints; (iii) this debt/patent ratio determines a leverage driven steady state growth of the economy." @default.
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- W3126001877 date "2004-10-13" @default.
- W3126001877 modified "2023-09-27" @default.
- W3126001877 title "Deep Pockets: Research and Development Persistence and Economic Growth" @default.
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