An Endogenous Growth Model with Expanding Ranges of Consumer Goods and Producer Durables
AbstractThis paper constructs a growth model with the feature that the range of differentiated consumption goods and the range of specialized producer durables are both endogenously determined. The author shows that this feature allows the domestic investment rate to be closely associated with the domestic saving rate even when international financial markets are integrated. He also argues that this feature is important in explaining the observed cross-country diversity in growth performance and saving behavior. Copyright 1998 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.
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Bibliographic InfoArticle provided by Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association in its journal International Economic Review.
Volume (Year): 39 (1998)
Issue (Month): 2 (May)
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- Apergis, Nicholas & Tsoumas, Chris, 2009. "A survey of the Feldstein-Horioka puzzle: What has been done and where we stand," Research in Economics, Elsevier, vol. 63(2), pages 64-76, June.
- PENG, Shin-Kun & THISSE, Jacques-François & WANG, Ping, 2004.
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- Peng, Shin-Kun & Thisse, Jacques-François & Wang, Ping, 2004. "Economic Integration and Agglomeration in a Middle Product Economy," CEPR Discussion Papers 4441, C.E.P.R. Discussion Papers.
- Shin-Kun Peng & Jacques-François Thisse & Ping Wang, 2005. "Economic Integration and Agglomeration in a Middle Product Economy," IEAS Working Paper : academic research 05-A006, Institute of Economics, Academia Sinica, Taipei, Taiwan.
- Steven Silver, 2010. "Convergence in Revealed Preferences for Automobiles as Differentiated Goods: U.S. and OECD Countries: 1970–1999," Atlantic Economic Journal, International Atlantic Economic Society, vol. 38(1), pages 3-14, March.
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