Growth Regression and Economic Theory
AbstractIn this note we show that the standard, loglinear growth regression specificationis consistent with one and only one model in the class of stochastic Ramsey models. Thismodel is highly restrictive: it requires a Cobb-Douglas technology and a 100% depreciationrate and it implies that risk does not affect investment behavior.
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Bibliographic InfoPaper provided by Tinbergen Institute in its series Tinbergen Institute Discussion Papers with number 02-034/2.
Date of creation: 10 Apr 2002
Date of revision:
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Web page: http://www.tinbergen.nl
economic growth; growth regressions; growth under uncertainty;
Other versions of this item:
- O4 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
- D91 - Microeconomics - - Intertemporal Choice and Growth - - - Intertemporal Consumer Choice; Life Cycle Models and Saving
This paper has been announced in the following NEP Reports:
- NEP-ALL-2002-04-25 (All new papers)
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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- Chris Elbers & Jan Willem Gunning & Bill Kinsey, 2003.
"Growth and Risk: Methodology and Micro Evidence,"
Tinbergen Institute Discussion Papers
03-068/2, Tinbergen Institute, revised 19 Sep 2006.
- Chris Elbers & Jan Willem Gunning & Lei Pan, 2009.
"Insurance and rural welfare: what can panel data tell us?,"
Taylor & Francis Journals, vol. 41(24), pages 3093-3101.
- Chris Elbersa & Jan Willem Gunning & Lei Pan, 2007. "Insurance and Rural Welfare: What Can Panel Data Tell Us?," CSAE Working Paper Series 2007-13, Centre for the Study of African Economies, University of Oxford.
- Chris Elbers, 2007. "Insurance and Rural Welfare: What Can Panel Data Tell Us?," Economics Series Working Papers WPS/2007-13, University of Oxford, Department of Economics.
- Chris Elbers & Jan Willem Gunning & Lei Pan, 2007. "Insurance and Rural Welfare: What can Panel Data tell us?," Tinbergen Institute Discussion Papers 07-011/2, Tinbergen Institute.
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