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Fil du rasoir et chocs sur les rendements d’échelle

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  • Jérôme GLACHANT

    (Université d’Evry et M.A.D., Université de Paris I)

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    Abstract

    Le sentier de croissance à taux constant 'endogène' peut être vu comme un nouveau fil du rasoir. Son existence repose sur la stricte égalité à un des rendements d'échelle vis-à-vis des facteurs accumulables. Nous étendons cette constatation en étudiant le sentier de croissance d'une économie où les rendements d'échelle, unitaires en espérance, sont soumis à des chocs stochastiques. La propriété de croissance ne résiste pas à l'introduction de ces chocs : le processus stochastique suivi par le stock de capital est stationnaire au sens fort. Cependant, l'économie ne converge pas pour autant vers un état stationnaire stable : la distribution limite du capital n'admet pas d'espérance. Nous commentons ensuite ces résultats pour en tirer quelques enseignements généraux.

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    Bibliographic Info

    Paper provided by Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) in its series Discussion Papers (REL - Recherches Economiques de Louvain) with number 1994034.

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    Length: 17
    Date of creation: 01 Sep 1994
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    Handle: RePEc:ctl:louvre:1994034

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    Cited by:
    1. Auray, Stéphane & Eyquem, Aurélien & Jouneau-Sion, Frédéric, 2014. "Modeling tails of aggregate economic processes in a stochastic growth model," Computational Statistics & Data Analysis, Elsevier, vol. 76(C), pages 76-94.

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