OCCASIONAL CEE SEMINAR

"Directed Technical Change and Government Policy"

Oguz Oztunali (Bogazici University)

Tuesday, July 1st
13:00
Murat Sertel Lounge (Natuk Birkan Building, 2nd Floor)

Abstract
In this paper, building on the directed technological change literature a lâ Acemoglu (1998, 2002), and borrowing some elements from Kiley (1999) and Galor and Moav (2000), I analyze the effects of government policies on the direction of technological progress and welfare. Specically I ask the
following question: Can subsidizing a sector which currently has a comparatively low level of productivity, but also a higher potential growth rate of productivity be welfare improving in a directed technical change setting where monopoly rights over inventions last a finite number of periods? Numerical simulations of my model provide support for such a welfare-improving subsidy policy. Moreover, my model also allows me to analyze effects of subsidies on new inventions in various different versions of intellectual property rights. Here, I show that subsidies are generally welfare improving when property rights are not well enforced; however this effect weakens with better enforcement of property rights.

News & Announcements

  • OCCASIONAL CEE SEMINAR
    18 March 2015 - Dr. Martin Raiser, World Bank Country Director for Turkey presented the report titled Turkey's Transitions: Integration, Inclusion, Institutions.

  • OCCASIONAL CEE SEMINAR
    Varun Gauri from the World Bank presented the World Development Report 2015 on Friday, May 22nd

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    Unal Seven from IMT Lucca will talk about Financial Development, Inequality and Poverty.


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Events

  • WORKSHOP ON GROWTH AND DISTRIBUTION
    The Workshop on Growth and Distribution will be held on Friday, September 23rd.

  • LECTURES ON GROWTH
    Dr. Cem Oyvat from the University of Greenwich gave a series of lectures on Neo-Kaleckian Growth Models on 1-2 June 2015.

  • ECONOMETRICS CONFERENCE
    International Econometrics Conference will be held on Saturday, 21st of June at Bogazici University.


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