Persistent Differences in National Productivity Growth Rates with A Com-mon Technology and Free Capital Mobility: The Roles of Private Thrift, ..
AbstractThe paper develops a two-country endogenous growth model to investigate possible causes for the existence and persistence of productivity growth differentials between nations despite a common technology, constant returns to scale and perfect international capital mobility. Private consumption is derived from a three-period overlapping generations specification. The source of productivity (growth) differentials in our model is the existence of a non-traded capital good ('human capital') whose augmentation requires a non-traded current input (time spent by the young in education rather than leisure) We consider the influence on productivity growth differentials of private thrift, public debt, the taxation of capital and savings and of policy towards human capital formation.
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Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 3637.
Date of creation: Feb 1991
Date of revision:
Publication status: published as Journal of Japanese and International Economics, Vol. 5, pp. 325-353 1991
Note: ITI IFM
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Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.
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- Klundert, T.C.M.J. van de & Smulders, J.A., 1998. "Capital Mobility and Catching Up in a Two-Country, Two-Sector Model of Endogenous Growth," Discussion Paper 1998-13, Tilburg University, Center for Economic Research.
- Stefan Dietrich Josten, 2001. "National Debt, Borrowing Constraints, and Human Capital Accumulation in an Endogenous Growth Model," FinanzArchiv: Public Finance Analysis, Mohr Siebeck, Tübingen, vol. 58(3), pages 317-, July.
- Klaus Waelde, 1994. "Trade pattern reversal: The role of technological change, factor accumulation and government intervention," International Trade 9403003, EconWPA, revised 06 Apr 1994.
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