Endogenous Technological Change
构建了一个由利润最大化主体的投资决策驱动技术变迁的增长模型，指出技术是一种非竞争性、部分排他性的商品，均衡为垄断竞争，并得出人力资本存量决定增长率、均衡中投入研究的人力资本过少等结论。
Growth in this model is driven by technological change that arises from intentional investment decisions made by profit-maximizing agents. The distinguishing feature of the technology as an input is that it is neither a conventional good nor a public good; it is a nonrival, partially excludable good. Because of the nonconvexity introduced by a nonrival good, price-taking competition cannot be supported. Instead, the equilibrium is one with monopolistic competition. The main conclusions are that the stock of human capital determines the rate of growth, that too little human capital is devoted to research in equilibrium, that integration into world markets will increase growth rates, and that having a large population is not sufficient to generate growth.