Score contribution per author:
α: calibrated so average coauthorship-adjusted count equals average raw count
This paper presents a simple R&D-driven endogenous growth model to shed light on some puzzling economic trends. The model can account for why patent statistics have been roughly constant even though R&D employment has risen sharply over the last thirty years. The model also illuminates why steadily increasing R&D effort has not led to any upward trend in economic growth rates, as is predicted by earlier R&D-driven endogenous growth models with the 'scale effect' property. Copyright 1998 by American Economic Association.