Imbalance Effects in the Lucas Model: an Analytical Exploration
AbstractIn 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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Bibliographic InfoArticle provided by De Gruyter in its journal The B.E. Journal of Macroeconomics.
Volume (Year): 4 (2004)
Issue (Month): 1 (December)
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Web page: http://www.degruyter.com
Other versions of this item:
- BOUCEKKINE, Raouf & RUIZ TAMARIT, Ramon, . "Imbalance effects in the Lucas model: an analytical exploration," CORE Discussion Papers RP -1755, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Raouf, BOUCEKKINE & Ramon, RUIZ-TAMARIT, 2004. "Imbalance effects in the Lucas model : An analytical exploration," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 2004005, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
- BOUCEKKINE, Raouf & RUIZ-TAMARIT, Ramon, 2004. "Imbalance effects in the Lucas model: an analytical exploration," CORE Discussion Papers 2004008, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
- C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
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.:
- Danyang Xie, 2002.
"Divergence in Economic Performance: Transitional Dynamics with Multiple Equilibria,"
GE, Growth, Math methods
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- Mulligan, Casey B & Sala-i-Martin, Xavier, 1993.
"Transitional Dynamics in Two-Sector Models of Endogenous Growth,"
The Quarterly Journal of Economics,
MIT Press, vol. 108(3), pages 739-73, August.
- 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.
- Mulligan, C.B. & Sala-i-Martin, X., 1992. "Transitional Dynamics in Two-Sector Models of Endogenous Growth," Papers 651, Yale - Economic Growth Center.
- 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.
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