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Human Capital, R&D and Competition in Macroeconomic Analysis. ENEPRI Working Paper No. 38, August 2005

Canton, Erik and Smid, Bert and van der Steeg, Marc and Minne, Bert and Nieuwenhuis, Ate. (2005) Human Capital, R&D and Competition in Macroeconomic Analysis. ENEPRI Working Paper No. 38, August 2005. [Working Paper]

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    Abstract

    Long-run per capita economic growth is driven by productivity growth. Major determinants of productivity are investments in education and research, and the intensity of competition in product markets. While these ideas have been incorporated into modern growth theories and tested in empirical analyses, they have not yet found their way to applied macroeconomic models used to forecast economic developments. In this paper, the authors discuss various options to include human capital, R&D and product market competition in a macroeconomic framework. They also study how policy can affect the decisions to build human capital or to perform research, and how competition policy impacts on macroeconomic outcomes.

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    Item Type: Working Paper
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > RTD policy/European Research Area
    EU policies and themes > Policies & related activities > economic and financial affairs > economic policy
    EU policies and themes > Policies & related activities > competition policy
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Centre for European Policy Studies (Brussels) > ENEPRI Working Papers
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 13 Oct 2009
    Page Range: p. 64
    Last Modified: 15 Feb 2011 18:15
    URI: http://aei.pitt.edu/id/eprint/11647

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