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Outputs (22)

R&D and Economic Growth in a Cash-in-Advance Economy (2014)
Journal Article
Chu, A., & Cozzi, G. (2014). R&D and Economic Growth in a Cash-in-Advance Economy. International Economic Review, 55(2), 507-524. https://doi.org/10.1111/iere.12059

R&D investment has well-known liquidity problems, with potentially important consequences. In this study, we analyze the effects of monetary policy on economic growth and social welfare in a Schumpeterian growth model with cash-in-advance (CIA) const... Read More about R&D and Economic Growth in a Cash-in-Advance Economy.

Effects of economic development in China on skill-biased technical change in the US (2014)
Journal Article
Chu, A., Cozzi, G., & Furukawa, Y. (2015). Effects of economic development in China on skill-biased technical change in the US. Review of Economic Dynamics, 18(2), 227-242. https://doi.org/10.1016/j.red.2014.04.001

In this study, we explore the effects of a change in unskilled labor in China on the direction of innovation in the US by incorporating production offshoring into a North–South model of directed technical change. We find that intellectual property ri... Read More about Effects of economic development in China on skill-biased technical change in the US.

Ambiguity attitude, R&D investments and economic growth (2011)
Journal Article
Cozzi, G., & Giordani, P. (2011). Ambiguity attitude, R&D investments and economic growth. Journal of Evolutionary Economics, 21(2), 303-319. https://doi.org/10.1007/s00191-010-0217-x

The process aimed at discovering new ideas is an economic activity the returns from which are intrinsically uncertain. We extend the neo-Schumpeterian growth framework to investigate the role of strong uncertainty in the innovative process. In partic... Read More about Ambiguity attitude, R&D investments and economic growth.

Government Spending Composition, Technical Change, and Wage Inequality (2010)
Journal Article
Cozzi, G., & Impullitti, G. (2010). Government Spending Composition, Technical Change, and Wage Inequality. Journal of the European Economic Association, 8(6), 1325-1358. https://doi.org/10.1111/j.1542-4774.2010.tb00557.x

In this paper we argue that government spending played a significant role in stimulating the wave of innovation that hit the U.S. economy in the late 1970s and in the 1980s, as well as the simultaneous increase in inequality and in education attainme... Read More about Government Spending Composition, Technical Change, and Wage Inequality.

Science-based R&D in Schumpeterian Growth (2009)
Journal Article
Cozzi, G., & Galli, S. (2009). Science-based R&D in Schumpeterian Growth. Scottish Journal of Political Economy, 56(4), 474-491. https://doi.org/10.1111/j.1467-9485.2009.00494.x

Firm success is often associated with the development of better products. Private firms undertake applied R&D seeking market advantage, by capitalizing on the freely accessible results of basic research. But unpatentable basic research often fails to... Read More about Science-based R&D in Schumpeterian Growth.

The refoundation of the symmetric equilibrium in Schumpeterian growth models (2007)
Journal Article
Cozzi, G., Giordani, P., & Zamparelli, L. (2007). The refoundation of the symmetric equilibrium in Schumpeterian growth models. Journal of Economic Theory, 136(1), 788-797. https://doi.org/10.1016/j.jet.2006.10.006

We provide a refoundation of the symmetric growth equilibrium characterizing the research sector of vertical R&D-driven growth models. We argue that the usual assumptions made in this class of models leave the agents indifferent as to where targeting... Read More about The refoundation of the symmetric equilibrium in Schumpeterian growth models.

Self-fulfilling prophecies in the quality ladders economy (2007)
Journal Article
Cozzi, G. (2007). Self-fulfilling prophecies in the quality ladders economy. Journal of Development Economics, 84(1), 445-464. https://doi.org/10.1016/j.jdeveco.2005.12.004

If R&D difficulty increases as it accumulates, as recent evidence suggests, then there is a value in the diversification of the aggregate R&D efforts over the whole range of industries in the economy. However, this paper proves that the quality ladde... Read More about Self-fulfilling prophecies in the quality ladders economy.

R&D cooperation, innovation, and growth (2006)
Journal Article
Cozzi, G., & Tarola, O. (2006). R&D cooperation, innovation, and growth. Journal of Institutional and Theoretical Economics, 162(4), 683-701. https://doi.org/10.1628/093245606779252670

This paper presents a standard endogenous growth framework in which the source of growth is represented by vertical innovations. The crucial assumption we introduce is that there is a positive information gap concerning the discovery of innovation. T... Read More about R&D cooperation, innovation, and growth.

Do sunspots matter under complete ignorance? (2006)
Journal Article
Cozzi, G., & Giordani, P. (2006). Do sunspots matter under complete ignorance?. Research in Economics, 60(3), 148-154. https://doi.org/10.1016/j.rie.2006.06.001

In a two-period, sunspot, pure-exchange economy we analyse the case in which agents do not assign subjective probabilistic beliefs to the ‘sunspot activity’. Two generations, each of which is made up of identical agents, populate this economy. Partic... Read More about Do sunspots matter under complete ignorance?.