Inflation and Innovation in a Schumpeterian Economy with North–South Technology Transfer

Angus C. Chu, Guido Cozzi, Yuichi Furukawa, Chih Hsing Liao

研究成果: 雜誌貢獻期刊論文同行評審

12 引文 斯高帕斯(Scopus)

摘要

This study analyzes how inflation affects innovation and international technology transfer via cash-in-advance constraints on R&D. We consider a North–South quality-ladder model that features innovative Northern R&D and adaptive Southern R&D. We find that higher Southern inflation causes a permanent decrease in technology transfer, a permanent increase in the North–South wage gap, and a temporary decrease in the Northern innovation rate. Higher Northern inflation causes a temporary decrease in the Northern innovation rate, a permanent decrease in the North–South wage gap, and ambiguous effects on technology transfer. Finally, we calibrate the model to China–U.S. data to perform a quantitative analysis.

原文???core.languages.en_GB???
頁(從 - 到)683-719
頁數37
期刊Journal of Money, Credit and Banking
51
發行號2-3
DOIs
出版狀態已出版 - 1 3月 2019

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