S-shaped Transition and Catapult Effects
AbstractAmong the rich economies of the world today, per capita output levels had diverged before converging to the per capita output level of the frontier economy. Since frontier economies have grown at stable rates, non-frontier economies display an S-shape aggregate transition path. Along this transition, there are "catapult effects": longer episodes of divergence are associated with faster subsequent rates of convergence to the frontier. We construct and quantitatively assess a model of S-shaped transition with catapult effects. Deviations in per capita output from frontier economy levels are endogenous, while conventional growth accounting would classify these as TFP differences.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Institute of Economic Policy Research (IEPR) in its series IEPR Working Papers with number 06.53.
Length: 31 pages
Date of creation: Jun 2006
Date of revision:
S-shaped transition; catapult effects; TFP;
Other versions of this item:
- O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
- O57 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
This paper has been announced in the following NEP Reports:
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Xavier Raurich & Valeri Sorolla, 2011.
"Growth, Unemployment and Wage Inertia,"
UFAE and IAE Working Papers
879.11, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
- Xavier Raurich & Valeri Sorolla, 2014. "Growth, unemployment and wage inertia," UB Economics Working Papers 2014/309, Universitat de Barcelona, Facultat d'Economia i Empresa, UB Economics.
- Xavier Raurich & Valeri Sorolla, 2012. "Growth, Unemployment and Wage Inertia," DEGIT Conference Papers c017_029, DEGIT, Dynamics, Economic Growth, and International Trade.
- Jaime Alonso-Carrera & Xavier Raurich, 2014. "Demand-based structural change and balanced economic growth," UB Economics Working Papers 2014/303, Universitat de Barcelona, Facultat d'Economia i Empresa, UB Economics.
- Raurich, Xavier & Sorolla, Valeri, 2014. "Growth, unemployment and wage inertia," Journal of Macroeconomics, Elsevier, vol. 40(C), pages 42-59.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Farideh Motamedi).
If references are entirely missing, you can add them using this form.