The Knowldge Tranfer 
Office, in collaboration with TECHNIS research group and TIME Master’s in Business Economics organise their 4th Seminar for 2021-2022 on Tuesday November 30 at 13.00.

Speaker: Guido Cozzi, University of St. Gallen

Subject: “Semi-Endogenous or Fully Endogenous Growth? A Simple Unified Theory”

Please follow:  https://zoom.us/j/91535594322?pwd=SEhZTHRkZENQYW10WXM0dUk1c1RUUT09

Abstract: Is growth ultimately fully endogenous
or semi-endogenous? A quarter-century of theoretical and empirical growth
economics has still kept both possibilities open. Consequently, I assume that
R&D-driven growth is a general combination of both semi-endogenous and
fully endogenous mechanisms. I here prove that if the semi-endogenous growth
component is essential to the actual growth mechanism, the long-run growth rate
will follow the semi-endogenous growth predictions. On the other hand, if the
semi-endogenous is not essential, the fully endogenous growth mechanism may
dictate the long run if the world population does not grow too fast. This
result holds regardless of whether fully endogenous growth is essential. I also
prove that if no other (third) growth mechanism exists, it suffices to prove
that less research always leads to fewer innovations to ascertain semi-