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On Endogenous Growth under Uncertainty Author info | Abstract | Publisher info | Download info | Related research | Statistics de Hek, Paul A
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This paper incorporates uncertainty in two distinct models of endogenous growth. In both models the representative agent is uncertain about the productivity of knowledge creation, as represented by a probability measure over the relevant parameter. The main purpose of this paper is to analyze the effects of risk or volatility in productivity of knowledge creation on the decision variables and the expected long-run growth rate. Both the first and the second models may explain part of the observed negative link between volatility and growth. Copyright 1999 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.
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Article 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): 40 (1999)
Issue (Month): 3 (August)
Pages: 727-44
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Handle: RePEc:ier:iecrev:v:40:y:1999:i:3:p:727-44Contact details of provider: Postal: 160 McNeil Building, 3718 Locust Walk, Philadelphia, PA 19104-6297 Phone: (215) 898-8487 Fax: (215) 573-2057 Email: Web page: http://www.econ.upenn.edu/ier More information through EDIRC
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