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Export Reference (APA) 
Gomes, O. (2008). Too much of a good thing: endogenous business cycles generated by bounded technological progress. Economic Modelling. 25 (5), 933-945
Export Reference (IEEE) 
O. M. Gomes,  "Too much of a good thing: endogenous business cycles generated by bounded technological progress", in Economic Modelling, vol. 25, no. 5, pp. 933-945, 2008
Export BibTeX 
@article{gomes2008_1715942743991,
	author = "Gomes, O.",
	title = "Too much of a good thing: endogenous business cycles generated by bounded technological progress",
	journal = "Economic Modelling",
	year = "2008",
	volume = "25",
	number = "5",
	doi = "10.1016/j.econmod.2007.12.001",
	pages = "933-945",
	url = "http://www.sciencedirect.com/science/article/pii/S0264999308000096"
}
Export RIS 
TY  - JOUR
TI  - Too much of a good thing: endogenous business cycles generated by bounded technological progress
T2  - Economic Modelling
VL  - 25
IS  - 5
AU  - Gomes, O.
PY  - 2008
SP  - 933-945
SN  - 0264-9993
DO  - 10.1016/j.econmod.2007.12.001
UR  - http://www.sciencedirect.com/science/article/pii/S0264999308000096
AB  - Following Jones and Williams [Jones, C.I., Williams, J., 2000. Too much of a good thing? The economics of investment in R&D. Journal of Economic Growth vol. 5 (no. 1), 65-85], we assume that R&D is simultaneously subject to positive and to negative external effects (e.g., the non-rival nature of technology conflicts with congestion externalities). This observation allows to conceive an economy where two R&D sectors evolve without departing significantly from each other in terms of their productive results (society tends to penalize imbalances in technical progress, making negative external effects to appear associated to a sector when this outstands relatively to the other sector, in turn, will be subject to positive externalities that reflect a catching up effect). The proposed framework, when associated to a growth setup, is able to replicate the existence of endogenous fluctuations and, therefore, it intends to be a contribution to the literature on endogenous business cycles. 
ER  -