新结构经济学workshop: Quality Ladders, Competition and Growth
主讲人：Michele Boldrin (Department of Economics, Washington University in St. Louis)
Title: Quality Ladders, Competition and Growth
We examine a theory of competitive innovation in which new ideas are introduced only when diminishing returns to the use of existing ideas sets in. After an idea is introduced, the knowledge capital associated with that idea expands, and its value falls. Once the value falls far enough, it becomes profitable to introduce a new idea. The resulting theory is consistent with fixed costs of innovation and it accounts for the same facts as existing theories of endogenous growth. However, there is evidence that innovation frequently takes place even absent monopoly power and that it is driven by diminishing returns on existing ideas – two facts that the existing theory cannot account for.
Michele Boldrin is the Joseph Gibson Hoyt Distinguished Professor and Chair at the Department of Economics, Washington University in Saint Louis. Professor Boldrin’s research concentrates on the development and the use of Dynamic General Equilibrium models. Substantive areas of research include business cycles and asset pricing, growth and demographic change, innovation and intellectual property, public policy and the welfare state. He has published extensively in the top academic journals of the economics discipline, including American Economic Review, Econometrica, Journal of Political Economy, and Review of Economic Studies. Professor Boldrin received his PhD in Economics from the University of Rochester in 1987. He joined Washington University in St. Louis in 2006, before that, he was the Associate Professor of UCLA, Associate Professor of Kellogg GSM of Northwestern University, and Professor of University of Minnesota. He is a Fellow of the Econometric Society since 2000, a past Advisory Editor of Review of Economic Dynamics since 1996 and a past Associate Editor of Econometrica from 2003 to 2009. From 2008 to 2010, he was the Executive Board member of Italian Scientists and Scholars in North America Foundation.