Product-variety model: Difference between revisions
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==See also== | ==See also== | ||
[[Schumpeterian growth theory]] | |||
==External links== | ==External links== | ||
==References== | ==References== | ||
Latest revision as of 18:25, 7 May 2018
The product-variety model is a long-run economic growth model.
The product-variety model of Romer (1990) is a branch of innovation-based growth models. According to the PVM, innovation causes productivity growth by creating new, but not necessarily improved, varieties of products.[1]