Imbalance effects in the Lucas model: an analytical exploration
AbstractIn this note, we use a technique analogous to Xie's method (1994) to solve analytically the Lucas model with externality in a specific parametric case. In particular, we characterize the shape of imbalance effects in this model. Our results are entirely consistent with the findings of the related computational literature. Moreover, our analytical investigation tends to show that these findings are robust to the presence of the Lucas externality as long as a unique equilibrium path exists.
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Bibliographic InfoPaper provided by Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) in its series CORE Discussion Papers with number 2004008.
Date of creation: 00 Apr 2004
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imbalance effects; Lucas model; externality; analytical solution;
Other versions of this item:
- Boucekkine Raouf & Ruiz Tamarit Ramon, 2004. "Imbalance Effects in the Lucas Model: an Analytical Exploration," The B.E. Journal of Macroeconomics, De Gruyter, vol. 4(1), pages 1-19, December.
- Raouf, BOUCEKKINE & Ramon, RUIZ-TAMARIT, 2004. "Imbalance effects in the Lucas model : An analytical exploration," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 2004005, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
- BOUCEKKINE, Raouf & RUIZ TAMARIT, Ramon, . "Imbalance effects in the Lucas model: an analytical exploration," CORE Discussion Papers RP -1755, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
- C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
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.:
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GE, Growth, Math methods
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- Casey B. Mulligan & Xavier Sala-i-Martin, 1992. "Transitional Dynamics in Two-Sector Models of Endogenous Growth," NBER Working Papers 3986, National Bureau of Economic Research, Inc.
- 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.
- Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
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