Ajustment Costs In A Neoclassical Model With Capital Mobility
AbstractThe paper analyzes the convergence behavior of the open-economy neoclassical growth model with one type of capital. Capital investment is assumed to be subjected to the costs of adjustment. The dependence of the convergence coefficient on the capital share, the elasticity of substitution between labor and capital, and the adjustment-cost specification is examined.
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Bibliographic InfoArticle provided by The Czech Econometric Society in its journal Bulletin of the Czech Econometric Society.
Volume (Year): 8 (2001)
Issue (Month): 14 ()
adjustment costs; capital mobility; convergence; neoclassical growth;
Find related papers by JEL classification:
- E13 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Neoclassical
- E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Capital; Investment; Capacity
- F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
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