Increasing Returns and Long-Run Growth.¶
Romer, P. M. (1986). Increasing Returns and Long-Run Growth. Journal of Political Economy, 94(5), 1002-1037.
Cited by¶
5 citations across 4 artifacts.
Each citation links to the sentence it supports in the citing article.
Primes¶
- Diminishing Returns (Law of)
- Romer (1986)
This sourceFound endogenous-growth theory by treating knowledge as a non-rival input with increasing marginal productivity, so growth can persist despite diminishing returns to physical capital — supports the prime's knowledge-spillover / increasing-returns counterpoint. Basis for Romer's 2018 Nobel Memorial Prize.
Supported in partVerified against the work's full text
Supplies a growth model where firms' new knowledge benefits other firms and has an increasing marginal product, so output grows without bound; non-rivalry is not stated.
“The creation of new knowledge by one firm is assumed to have a positive external effect on the production possibilities of other firms because knowledge cannot be perfectly patented or kept secret.”
- Romer (1986)
- Economies of Scale
This sourceEndogenous-growth model with increasing returns to knowledge accumulation.
- … microeconomic theory, scale economies underpin the distinction between constant, increasing, and decreasing returns to scale production functions, and they are central to Paul Krugman's Nobel-prize-winning new trade theory (Krugman 1979, 1980, 1991) and to the endogenous growth theory of Romer (1986, 1990)
This sourceFounds endogenous-growth theory by treating knowledge as a non-rival input subject to economy-wide increasing returns; supports the inline claim that Romer's endogenous-growth theory puts knowledge-driven increasing returns at the heart of long-run growth.
- Increasing Returns
This sourceEndogenous-growth model in which increasing returns to knowledge accumulation drive long-run growth, formalizing the macro-scale instantiation of the rising-marginal payoff regime and embedding it in modern growth theory.
Domain-specific¶
- Endogenous Growth Theory
- Endogenous growth theory is the class of macroeconomic models — developed by Paul Romer (1986, 1990), Robert Lucas (1988), Philippe Aghion and Peter Howitt (1992), and successors
Supported in partVerified against the source
- Endogenous growth theory is the class of macroeconomic models — developed by Paul Romer (1986, 1990), Robert Lucas (1988), Philippe Aghion and Peter Howitt (1992), and successors
Verification¶
Does it exist? Confirmed. This work's DOI resolves to a registered record, which fixes its identity. That is all it fixes.
Does it back the claim? Read against the text for 2 of 5 citations: 2 supported in part. Each verdict is shown under its citation below, with what in the work backs the sentence.
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Links previously used in the corpus¶
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