Difference between revisions of "Product-variety model"

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The product-variety model is a [[long-run economic growth model]].
 
The product-variety model is a [[long-run economic growth model]].
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The product-variety model of Romer (1990) is a branch of [[innovation-based growth model]]s. According to the PVM, innovation causes productivity growth by creating new, but not necessarily improved, varieties of products.<ref>{{cite book|last1=Aghion|first1=Philippe|last2=Howitt|first2=Peter W.|title=The Economics of Growth|url=https://books.google.com.ar/books?id=B9vxCwAAQBAJ&pg=PA69&lpg=PA69&dq=%22Product-variety+model%22&source=bl&ots=9p-pGKlJ5J&sig=o2Nun5kFVLmW6zj1qzLXgw00PJ8&hl=en&sa=X&ved=0ahUKEwjss6H2kvTaAhVDvJAKHUP_CrI4ChDoAQg1MAI#v=onepage&q=%22Product-variety%20model%22&f=false}}</ref>
  
 
==See also==
 
==See also==
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[[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]

See also

Schumpeterian growth theory

External links

References

  1. Aghion, Philippe; Howitt, Peter W. The Economics of Growth.