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On the transition dynamics in endogenous recombinant growth models

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Author Info
Privileggi, Fabio ()

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Abstract

This paper constitutes a first attempt at studying the transition dynamics of the Tsur and Zemel (2007) continuous time endogenous growth framework in which knowledge evolves according to the Weitzman (1998) recombinant process. For a specific choice of the probability function characterizing the Weitzman recombinant process, we find a suitable transformation for the state and control variables in the dynamical system diverging to asymptotic constant growth, so that an equivalent 'detrended' system converging to a steady state in the long run can be tackled. Since the dynamical system obtained so far turns out to be analytically intractable, we rely on numerical simulation in order to fully describe the transition dynamics for a set of values of the parameters.

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Publisher Info
Paper provided by Department of Public Policy and Public Choice - POLIS in its series P.O.L.I.S. department's Working Papers with number 120.

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Length: 36 pages
Date of creation: Dec 2008
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Handle: RePEc:uca:ucapdv:120

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Related research
Keywords: Knowledge Production; Recombinant Expansion Process; Endogenous Balanced Growth; Turnpike; Transition Dynamics;

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Find related papers by JEL classification:
C61 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming - - - Optimization Techniques; Programming Models; Dynamic Analysis
O31 - Economic Development, Technological Change, and Growth - - Technological Change - - - Innovation and Invention: Processes and Incentives
O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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References listed on IDEAS
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.:
  1. Boucekkine, R. & Ruiz-Tamarit, J.R., 2008. "Special functions for the study of economic dynamics: The case of the Lucas-Uzawa model," Journal of Mathematical Economics, Elsevier, vol. 44(1), pages 33-54, January. [Downloadable!] (restricted)
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  2. Migheli, Matteo, 2009. "Assessing trust through social capital? A possible experimental answer," P.O.L.I.S. department's Working Papers 119, Department of Public Policy and Public Choice - POLIS. [Downloadable!]
  3. Tsur, Yacov & Zemel, Amos, 2007. "Towards endogenous recombinant growth," Journal of Economic Dynamics and Control, Elsevier, vol. 31(11), pages 3459-3477, November. [Downloadable!] (restricted)
  4. Privileggi, Fabio, 2008. "On the transition dynamics in endogenous recombinant growth models," P.O.L.I.S. department's Working Papers 120, Department of Public Policy and Public Choice - POLIS. [Downloadable!]
  5. Migheli, Matteo & Ortona, Guido & Ponzano, Ferruccio, 2009. "A preliminary simulative assessment of disproportionality indices," P.O.L.I.S. department's Working Papers 116, Department of Public Policy and Public Choice - POLIS. [Downloadable!]
  6. Casey B. Mulligan & Xavier Sala-i-Martin, 1991. "A Note on the Time-Elimination Method For Solving Recursive Dynamic Economic Models," NBER Technical Working Papers 0116, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  7. Piero Cavaleri & Michael Keren & Giovanni B. Ramello & Vittorio Valli, 2009. "Publishing an E-Journal on a Shoe String: Is It a Sustainable Project?," Economic Analysis and Policy (EAP), Queensland University of Technology (QUT), School of Economics and Finance, vol. 39(1), pages 89-101, March. [Downloadable!]
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Cited by:
(explanations, 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.)

  1. Orso, Cristina Elisa, 2009. "Formal and informal sectors: Interactions between moneylenders and traditional banks in the rural Indian credit market," P.O.L.I.S. department's Working Papers 135, Department of Public Policy and Public Choice - POLIS. [Downloadable!]
  2. Privileggi, Fabio, 2008. "On the transition dynamics in endogenous recombinant growth models," P.O.L.I.S. department's Working Papers 120, Department of Public Policy and Public Choice - POLIS. [Downloadable!]
  3. Bondonio, Daniele, 2009. "Impact identification strategies for evaluating business incentive programs," P.O.L.I.S. department's Working Papers 129, Department of Public Policy and Public Choice - POLIS. [Downloadable!]
  4. Giuranno, Michele, 2009. "The logic of party coalitions with political activism and public financing," P.O.L.I.S. department's Working Papers 134, Department of Public Policy and Public Choice - POLIS. [Downloadable!]
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