4期编辑：丁克达 审核：陆堇Endogenous Technological ChangeEfficient Capital Markets: A Review of Theory and Empirical WorkSome Tests of Specification for
Panel Data:
Monte Carlo Evidence and an
Application to Employment
EquationsTheory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure1、Endogenous Technological ChangeJournal of Political Economy, 1989, 98(5): 71–102 Paul M. Romer, University of ChicagoAbstractGrowth in this model is driven by technological change that arises
from intentional investment decisions made by profit-maximizing
agents. The distinguishing feature of the technology as an input is
that it is neither a conventional good nor a public good; it is a nonrival, partially excludable good. Because of the nonconvexity introduced by a nonrival good, price-taking competition cannot be
supported. Instead, the equilibrium is
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