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Economic modelling of innovation demands a great deal from
economists since it requires them to analyse the new and unknown.
This volume brings together contributions from a distinguished
group of scholars who review a wide range of different theoretical
and empirical economic approaches to this important topic.Beginning
with a survey of recent economic analysis on the role of innovation
in driving growth, this volume features papers on the mainstream
approaches to the welfare economics of innovation, the pitfalls and
delays involved in bringing major inventions to market and the
public subsidy of research. Later chapters examine pricing
strategies for new products, models of productivity growth,
knowledge spillovers across national boundaries and the effect of
innovation on income distribution. While recognising the many
non-economic factors needed to explain innovation, Economic
Approaches to Innovation demonstrates that economic analysis has
much to offer in its modelling of key concepts such as uncertainty,
private information, incentives and public goods.
First published in 2003, The Cambridge Handbook of Social Sciences
in Australia is a high-quality reference on significant research in
Australian social sciences. The book is divided into three main
sections, covering the central areas of the social
sciences-economics, political science and sociology. Each section
examines the significant research in the field, placing it within
the context of broader debates about the nature of the social
sciences and the ways in which institutional changes have shaped
how they are defined, taught and researched.
The development of the endogenous growth model rekindled interest
in growth theory. In contrast to the neo-classical model, long-run
endogenous growth emerged as an equilibrium outcome, reflecting the
behaviour of optimizing agents in the economy. This book brings
together a number of contributions in growth theory and
macroeconomic dynamics, reflecting these developments and the
ongoing debate over the relative merits of neo-classical and
endogenous growth models. It focuses on the emergence of three
important aspects: First, it develops growth models that extend the
underlying theory in different directions. Second, it addresses one
of the concerns of the literature on growth and dynamics: the
statistical properties of underlying data and the effort to ensure
that growth models are consistent with empirical evidence. Third,
it discusses the increasingly international focus of macrodynamics
and growth theory, an inevitable consequence of the integration of
the world economy.
This high-quality reference on significant research in Australian social sciences is divided into three main sections: economics, sociology and political science. Each section examines the significant research in the field. The volume views the research within the context of broader debates about the social sciences and the ways in which more recent institutional changes have altered how they are defined, taught and researched.
The development of the endogenous growth model rekindled interest
in growth theory. In contrast to the neo-classical model, long-run
endogenous growth emerged as an equilibrium outcome, reflecting the
behavior of optimizing agents in the economy. This book brings
together a number of contributions in growth theory and
macroeconomic dynamics, reflecting these recent developments and
the ongoing debate over the relative merits of neo-classical and
endogenous growth models. It focuses on the emergence of three
important aspects: First, it develops growth models that extend the
underlying theory in different directions. Second, it addresses one
of the concerns of the recent literature on growth and dynamics:
the statistical properties of underlying data and the effort to
ensure that growth models are consistent with empirical evidence.
Third, it discusses the increasingly international focus of
macrodynamics and growth theory, an inevitable consequence of the
integration of the world economy.
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