Kristkova, Zuzana Smeets - EcoMod Network - 2012
existing CGE model (Romer, 1990). In concrete, the CGE model captures the effects stemming from the production of capital … literature. The paper builds on a recursively-dynamic CGE model that incorporates the effects of R&D investments by accumulating … growth, the CGE model is further extended to incorporate monopolistic competition in the sector of private R&D which produces …