Vasilev, Aleksandar (2021) A MODEL WITH KNOWLEDGE EXTERNALITIES AND EDUCATIONAL POLICY. Theoretical and Practical Research in the Economic Fields, 12 (1). pp. 39-41. ISSN 2068-7710
Full content URL: https://doi.org/10.14505//tpref.v12.1(23).05
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| Item Type: | Article |
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| Item Status: | Live Archive |
Abstract
We utilize a standard endogenous-growth model with knowledge spillovers (the “k-K” model). We characterize the optimal Balanced Growth Path (BGP), and compare it to path under market competition. In the presence of externalities, markets fail. One way to restore efficiency is to subsidize knowledge accumulation, and finance the subsidy by taxing final consumption.
| Keywords: | knowledge externalities, educational policy |
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| Subjects: | L Social studies > L130 Macroeconomics |
| Divisions: | Lincoln International Business School |
| Related URLs: | |
| ID Code: | 46890 |
| Deposited On: | 12 Oct 2021 09:14 |
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