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Imbalance Effects in the Lucas Model: an Analytical Exploration

Author

Listed:
  • Boucekkine Raouf

    (Université Catholique de Louvain)

  • Ruiz Tamarit Ramon

    (University of Valencia)

Abstract

In this note, we extend Xie (JET, 1994) to solve analytically the Lucas model with a weak externality in a specific parametric case. In particular, we characterize the shape of imbalance effects in this model. Our results are mostly consistent with the findings of the related computational literature. Among other analytical findings, we prove that, while U-shaped imbalance effects are not apparent in the Lucas model for the growth rate of output per capita, the level of such a variable may exhibit this shape.

Suggested Citation

  • Boucekkine Raouf & Ruiz Tamarit Ramon, 2004. "Imbalance Effects in the Lucas Model: an Analytical Exploration," The B.E. Journal of Macroeconomics, De Gruyter, vol. 4(1), pages 1-19, December.
    • Handle: RePEc:bpj:bejmac:v:topics.4:y:2004:i:1:n:15
    DOI: 10.2202/1534-5998.1232
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    JEL classification:

    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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