On Convergence in Endogenous Growth Models
AbstractIn this paper we analyze the rate of convergence to a balanced path in a class of endogenous growth models with physical and human capital. We show that such rate depends locally on the technological parameters of the model, but does not depend on those parameters related to preferences. These results stand in sharp contrast with those of the one-sector neoclassical growth model where both preferences and technologies determine the speed of convergence toward a steady state.
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Bibliographic InfoPaper provided by Centro de Investigacion Economica, ITAM in its series Working Papers with number 9409.
Length: 34 pages
Date of creation: Nov 1994
Date of revision:
Other versions of this item:
- Salvador Ortigueira & Manuel Santos, 1996. "On convergence in endogenous growth models," Discussion Paper / Institute for Empirical Macroeconomics 110, Federal Reserve Bank of Minneapolis.
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.:
- 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.
- James Heckman & Lance Lochner & Christopher Taber, 1998.
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Elsevier for the Society for Economic Dynamics, vol. 1(1), pages 1-58, January.
- James J. Heckman & Lance Lochner & Christopher Taber, 1998. "Explaining Rising Wage Inequality: Explorations with a Dynamic General Equilibrium Model of Labor Earnings with Heterogeneous Agents," NBER Working Papers 6384, National Bureau of Economic Research, Inc.
- Hendricks, Lutz A., 2001.
"Growth, Death, and Taxes,"
Staff General Research Papers
11930, Iowa State University, Department of Economics.
- Salvador Ortigueira, 1996.
"Fiscal Policy in an Endogenous Growth Model with Human Capital Accumulation,"
9609, Centro de Investigacion Economica, ITAM.
- Ortigueira, Salvador, 1998. "Fiscal policy in an endogenous growth model with human capital accumulation," Journal of Monetary Economics, Elsevier, vol. 42(2), pages 323-355, July.
- Antonio Ladron de Guevara & Salvador Ortigueira & Manuel S. Santos, 1994.
"Equilibrium Dynamics in Two-Sector Models of Endogenous Growth,"
9403, Centro de Investigacion Economica, ITAM.
- Ladron-de-Guevara, Antonio & Ortigueira, Salvador & Santos, Manuel S., 1997. "Equilibrium dynamics in two-sector models of endogenous growth," Journal of Economic Dynamics and Control, Elsevier, vol. 21(1), pages 115-143, January.
- Hendricks, Lutz A., 1999.
"Taxation and Long-Run Growth,"
Staff General Research Papers
11933, Iowa State University, Department of Economics.
- Alejandro Diaz Bautista & Mauro Diaz Dominguez, 2004. "Capital Humano y Crecimiento Económico en México (1970-2000). Human Capital and Economic Growth in Mexico," Urban/Regional 0405008, EconWPA.
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