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When sociable workers pay off: Can firms internalize social capital externalities?
Ferreira-Lopes, Alexandra; Roseta-Palma, Catarina; Sequeira, Tiago NevesWe use an endogenous growth model to contrast the socially optimal allocation of human capital with the decentralized solution, in a context where workers make the choices that determine social capital accumulation. As social capital is expected to increase productivity but is not traded in markets, a positive social capital externality is identified. We discuss the possibility that, in response to this externa...
Externalities in an endogenous growth model with social and natural capital
Roseta-Palma, Catarina; Ferreira-Lopes, Alexandra; Sequeira, Tiago NevesWOS:000273996000018 (Nº de Acesso Web of Science) ; Models of economic growth are typically based on the use of one or more stocks of productive assets to create goods for utility-generating consumption. The roles played by man-made capital, natural capital, and human capital have been explored in the literature, and more recently the notion of social capital has been brought to the fore. This paper provides a...
R&D spillovers in an endogenous growth model with physical capital, human capit...
Sequeira, Tiago NevesThere is a family of models with Physical, Human capital and R&D for which convergence properties have been discussed (Arnold, 2000a; Gómez, 2005). However, spillovers in R&D have been ignored in this context. We introduce spillovers in this model and derive its steady-state and stability properties. This new feature implies that the model is characterized by a system of four differential equations. A unique Ba...
Absorption in human capital and r&d effects in an endogenous growth model
Sequeira, Tiago NevesUntil now, in models of endogenous growth with physical capital, human capital and R&D such as in Arnold [Journal of Macroeconomics 20 (1998)] and followers, steady-state growth is independent of innovation activities. We introduce absorption in human capital accumulation and describe the steady-state and transition of the model. We show that this new feature provides an effect of R&D in growth, consumption and...
Transitional dynamics of an endogenous growth model with an erosion effect
Sequeira, Tiago NevesThe convergence features of an Endogenous Growth model with Physical capital, Human Capital and R&D have been studied. We add an erosion effect (supported by empirical evidence) to this model, and fully characterize its convergence properties. The dynamics is described by a fourth-order system of differential equations. We show that the model converges along a one-dimensional stable manifold and that its equili...
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