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Ajustment Costs In A Neoclassical Model With Capital Mobility

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  • Petr Duczynski

Abstract

The paper analyzes the convergence behavior of the open-economy neoclassical growth model with one type of capital. Capital investment is assumed to be subjected to the costs of adjustment. The dependence of the convergence coefficient on the capital share, the elasticity of substitution between labor and capital, and the adjustment-cost specification is examined.

Suggested Citation

  • Petr Duczynski, 2001. "Ajustment Costs In A Neoclassical Model With Capital Mobility," Bulletin of the Czech Econometric Society, The Czech Econometric Society, vol. 8(14).
  • Handle: RePEc:czx:journl:v:8:y:2001:i:14:id:103
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    File URL: http://ces.utia.cas.cz/bulletin/index.php/bulletin/article/view/103
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    Keywords

    adjustment costs; capital mobility; convergence; neoclassical growth;

    JEL classification:

    • E13 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Neoclassical
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies

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