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dc.contributor.authorGIORDANI, Paolo
dc.contributor.authorZAMPARELLI, Luca
dc.date.accessioned2008-02-01T13:48:43Z
dc.date.available2008-02-01T13:48:43Z
dc.date.issued2008
dc.identifier.citationThe B.E. Journal of Macroeconomics, 2008, 8, 1, Article 1en
dc.identifier.urihttp://hdl.handle.net/1814/7937
dc.description.abstractWe extend the class of quality-ladder growth models (Grossman and Helpman, 1991, Segerstrom, 1998 and others), to encompass an economy with asymmetric fundamentals. In contrast to the standard framework, in our model industries may differ in terms of their innovative potential (quality jumps and arrival rates) and consumers' preferences. This extension allows us to bring industrial policy back into the realm of the growth policy debate. We first show that it is always possible to raise the long-run growth rate and the social welfare of the economy through a costless tax/subsidy scheme reallocating resources towards the relatively more promising industries. We then prove that, in certain economies, even a mere profit taxation policy increases economic growth and social welfare above the laissez-faire. Article available at: http://www.bepress.com/bejm/vol8/iss1/art1en
dc.language.isoenen
dc.publisherBerkeley Electronic Pressen
dc.titleThe Importance of Industrial Policy in Quality-Ladder Growth Modelsen
dc.typeArticleen
dc.neeo.contributorGIORDANI|Paolo|aut|
dc.neeo.contributorZAMPARELLI|Luca|aut|


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