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Cambridge Journal of Economics Advance Access published online on November 8, 2006
Cambridge Journal of Economics, doi:10.1093/cje/bel029
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© The Author 2006. Published by Oxford University Press on behalf of the Cambridge Political Economy Society. All rights reserved.
Received July 5, 2005
Revised July 14, 2006

Article

Homogeneity masquerading as variety: the case of horizontal innovation models

Man-Seop Park 1 *

1 Department of Economics, Korea University

* To whom correspondence should be addressed.
Man-Seop Park, E-mail: manseop{at}korea.ac.kr


  Abstract

The literature on ‘horizontal innovation’ claims to analyse cases where unbounded endogenous growth comes from an increasing variety of intermediate goods. The present paper contends that a good sample of representative models in this literature share two essential assumptions regarding production technology, and that these assumptions together amount to assuming the homogeneity of various intermediate goods. In these models, there is no variety of intermediate goods to increase owing to R&D activities; what increases is a mass of a single homogeneous intermediate good.

Keywords: Horizontal innovation; Dixit-Stiglitz technology.
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