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A stylized version of the Aghion-Howitt growth model

Delano Villanueva

Philippine Review of Economics2025https://doi.org/10.37907/6erp5202darticle
ABDC C
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0.50

What the paper says

This short note introduces a compact, self-contained 3 × 3 reduced version of the Aghion-Howitt (AH, Schumpeterian, or creative destruction) model. This stylized reduction aims to capture the three core mechanisms in the AH intuition: (i) innovation (endogenous technological progress), (ii) capital accumulation or production, and (iii) allocation of labor to research & development (R&D) which responds to relative returns. This piece writes the three-equation system, explains every symbol, and outlines the steady-state or balanced-growth conditions as well as the Jacobian for local stability analysis. Developing and emerging economies such as the Philippines, where the R&D sector is actively growing, can benefit from understanding the AH model.

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https://doi.org/https://doi.org/10.37907/6erp5202d

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@article{delano2025,
  title        = {{A stylized version of the Aghion-Howitt growth model}},
  author       = {Delano Villanueva},
  journal      = {Philippine Review of Economics},
  year         = {2025},
  doi          = {https://doi.org/https://doi.org/10.37907/6erp5202d},
}

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A stylized version of the Aghion-Howitt growth model

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0.50

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.50 × 0.4 = 0.20
M · momentum0.50 × 0.15 = 0.07
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

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