Schumpeterian growth with variable demand elasticity
将可变需求弹性偏好引入两部门研发模型，发现人口增长率高时出现半内生平衡增长路径，低时转向完全内生增长，并指出半内生路径对发达经济体缺乏实证支持。
Abstract Variable Demand Elasticity preferences are introduced into a canonical two‐sector R&D model. The departure from the traditional CES specification yields novel growth dynamics: for a sufficiently high population growth rate, a semi‐endogenous balanced growth path (“BGP”) of drastic innovation is characterized, along which economic growth is determined by the population growth rate. However, for a sufficiently low population growth rate, the model economy converges to the limit values of demand elasticity and a fully endogenous growth regime of non‐drastic innovation. A few stylized facts undermine the empirical relevance of the semi‐endogenous BGP with drastic innovation to developed economies.