Product cycles and growth cycles
构建两国世代交叠模型，理论证明南方国家通过模仿北方国家产品，会导致世界经济增长率出现永久性波动，产生内生增长周期。
This paper theoretically shows that shifts in production from developed countries (the North) to developing countries (the South) through imitation by the South can cause endogenous growth cycles. On the equilibrium path, the world economy continues to grow, but innovation, imitation, and the growth rate may permanently fluctuate. To show this, we construct a two-country overlapping generations model where the North develops new goods and the South imitates these goods endogenously. A key assumption is international knowledge spillover in the imitation process. The model implies that growth cycles tend to emerge when imitation in the South is more active.