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Imbalance Effects in the Lucas Model: an Analytical Exploration

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Author Info
Raouf Boucekkine (Université Catholique de Louvain)
Ramon Ruiz Tamarit (University of Valencia)

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Abstract

In this note, we extend Xie (JET, 1994) to solve analytically the Lucas model with a weak externality in a specific parametric case. In particular, we characterize the shape of imbalance effects in this model. Our results are mostly consistent with the findings of the related computational literature. Among other analytical findings, we prove that, while U-shaped imbalance effects are not apparent in the Lucas model for the growth rate of output per capita, the level of such a variable may exhibit this shape.

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Publisher Info
Article provided by Berkeley Electronic Press in its journal Topics in Macroeconomics.

Volume (Year): 4 (2004)
Issue (Month): 1 ()
Pages: 1232-1232
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Handle: RePEc:bep:mactop:v:4:y:2004:i:1:p:1232-1232

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Related research
Keywords: Imbalance effects Lucas model Externality Analytical solution

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Find related papers by JEL classification:
C61 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming - - - Optimization Techniques; Programming Models; Dynamic Analysis

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Casey B. Mulligan & Xavier Sala-i-Martin, 1992. "Transitional Dynamics in Two-Sector Models of Endogenous Growth," NBER Working Papers 3986, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  2. Farhad Nili, 2002. "U-shaped Paths of Consumption and Physical Capital in Lucas-type Growth Models," Keele Economics Research Papers KERP 2002/08, Centre for Economic Research, Keele University. [Downloadable!]
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  3. Robert E. Lucas, Jr., 1989. "On the Mechanics of Economic Development," NBER Reprints 1176, National Bureau of Economic Research, Inc.
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  4. Caballe, Jordi & Santos, Manuel S, 1993. "On Endogenous Growth with Physical and Human Capital," Journal of Political Economy, University of Chicago Press, vol. 101(6), pages 1042-67, December. [Downloadable!] (restricted)
  5. Benhabib Jess & Perli Roberto, 1994. "Uniqueness and Indeterminacy: On the Dynamics of Endogenous Growth," Journal of Economic Theory, Elsevier, vol. 63(1), pages 113-142, June. [Downloadable!] (restricted)
  6. Xie Danyang, 1994. "Divergence in Economic Performance: Transitional Dynamics with Multiple Equilibria," Journal of Economic Theory, Elsevier, vol. 63(1), pages 97-112, June. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. William Smith, 2006. "A Closed Form Solution to the Ramsey Model," Contributions to Macroeconomics, Berkeley Electronic Press, vol. 6(1), pages 1356-1356. [Downloadable!] (restricted)
  2. Marc, VANCAUTEREN & Daniel, WEISERBS, 2005. "Intra-European Trade of Manufacturing Goods : An extension of the Gravity Model," Université catholique de Louvain, Département des Sciences Economiques Working Paper 2005026, Université catholique de Louvain, Département des Sciences Economiques. [Downloadable!]
  3. Raouf, BOUCEKKINE & Bity, DIENE & Theophile, AZOMAHOU, 2006. "The Growth economics of epidemics," Université catholique de Louvain, Département des Sciences Economiques Working Paper 2006021, Université catholique de Louvain, Département des Sciences Economiques. [Downloadable!]
  4. Raouf, BOUCEKKINE & JosŽ R. , RUIZ-TAMARIT, 2004. "Special functions for the study of economic dynamics : The case of the Lucas-Uzawa model," Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) Discussion Paper 2004026, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES). [Downloadable!]
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  5. José Ramón Ruiz Tamarit & Manuel Sánchez Moreno, 2006. "Optimal Regulation And Growth In A Natural-Resource-Based Economy," Working Papers. Serie AD 2006-21, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie). [Downloadable!]
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