Dynamic analysis of an endogenous growth model with finitely-lived patents

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  • 特許期間の有限性の下でのマクロ動学分析
  • トッキョ キカン ノ ユウゲンセイ ノ シタ デ ノ マクロドウガク ブンセキ

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Abstract

This study provides a theoretical analysis on dynamics of an endogenous growth model under a finiteness of a patent length. In a growth model in continuous time with finitely-lived patents, the law of motions is expressed as a differential-difference equation system, which includes both advance and delay differential equations. We investigate the differential-difference equation system derived from the model, and clarify the impact of a finiteness of patent on the local stability. Our analysis shows that the balanced growth path is locally stable even if a patent length is finite.

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