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Endogenous growth and economic fluctuations

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Author Info
Ilaski Barañano () (Universidad del País Vasco)

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Abstract

The specific contribution of endogenous growth models to RBC literature remains unclear since, although the implication of assuming endogenous growth for explaining aggregate fluctuations has already been considered for instance by Gomme (1993) and Ozlu (1996), these papers introduce additional shocks in order to reproduce some labor market fluctuations. In this paper we attempt to identify the success of some endogenous growth models in mimicking some key aspects of labor market behaviour while retaining a single shock. This paper shows that the introduction of an activity competing with the final output production activity may help to explain some labor market features, there being no need to introduce any additional source of uncertainty as is usually done in standard growth models. (Copyright: Fundación Empresa Pública)

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File URL: ftp://ftp.funep.es/InvEcon/paperArchive/Sep2001/v25i3a3.pdf
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Publisher Info
Article provided by Fundación SEPI in its journal Investigaciones Economicas.

Volume (Year): 25 (2001)
Issue (Month): 3 (September)
Pages: 515-541
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Handle: RePEc:iec:inveco:v:25:y:2001:i:3:p:515-541

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Postal: Investigaciones Economicas Fundación SEPI Quintana, 2 (planta 3) 28008 Madrid Spain
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Related research
Keywords: real business cycles; aggregate fluctuations; endogenous growth; propagation mechanism;

Find related papers by JEL classification:
E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

References listed on IDEAS
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    Other versions:
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    Other versions:
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  5. Paul Gomme, 1991. "Money and growth revisited," Discussion Paper / Institute for Empirical Macroeconomics 55, Federal Reserve Bank of Minneapolis. [Downloadable!]
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  19. Rogerson, Richard, 1988. "Indivisible labor, lotteries and equilibrium," Journal of Monetary Economics, Elsevier, vol. 21(1), pages 3-16, January. [Downloadable!] (restricted)
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