{'fraction_non_alphanumeric': 0.018726591760299626, 'fraction_numerical': 0.0, 'mean_word_length': 5.739495798319328, 'pattern_counts': {'":': 0, '<': 0, '<?xml version=': 0, '>': 0, 'https://': 0, 'lorem ipsum': 0, 'www.': 0, 'xml': 0}, 'pii_count': 0, 'substrings_counts': 0, 'word_list_counts': {'cursed_substrings.json': 0, 'profanity_word_list.json': 0, 'sexual_word_list.json': 0, 'zh_pornsignals.json': 0}}
Equilibrium Dynamics of an Endogenous Growth Model with an Erosion Effect and Duplication in R&D

This paper devises an endogenous growth model with physical capital accumulation, knowledge formation and R&D, in which technological progress has an erosion effect in human capital, and innovation is subject to externalities associated to the duplication of research effort. We provide conditions for the existence of a unique feasible steady‐state equilibrium with positive long‐run growth. For appropriate parameter values, the transitional dynamics of the model is represented by a two‐dimensional stable manifold. Numerical simulations show that the incorporation of an erosion effect, as well as duplication externalities, significantly increases the ability of the model to fit the observed data.