On May 30, 2019 Professor Kiminori Matsuyama of Northwestern University talked about his new research rearch paper
"Reconsidering the Market Size Effect in Innovation and Growth". There were about ten to twelve participants.

The talk is about R&D-based endogenous growth. In a standard case a larger country innovates more and grows faster in a balanced growth equilibrium. But if it is extended to cover the cases of nonhomothetic preferences, a country with higher per capita expenditure and a smaller population size holding market size (total expenditure) constant leads to higher growth in balanced growth equilibrium.
This research enables to clarify the role of demand side in a standard R&D based endogenous growth model.