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Multiple steady states, indeterminacy, and cycles in a basic model of endogenous growth

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  • Alfred Greiner
  • Willi Semmler

Abstract

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File URL: http://hdl.handle.net/10.1007/BF01237247
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Article provided by Springer in its journal Journal of Economics Zeitschrift für Nationalökonomie.

Volume (Year): 63 (1996)
Issue (Month): 1 (February)
Pages: 79-99

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Handle: RePEc:kap:jeczfn:v:63:y:1996:i:1:p:79-99
Contact details of provider: Web page: http://www.springerlink.com/link.asp?id=108909

Keywords: endogenous growth; externalities; learning; indeterminacy; O41;

Find related papers by JEL classification:

  • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

References listed on IDEAS
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  1. Michele Boldrin & Aldo Rustichini, 2010. "Growth and Indeterminacy in Dynamic Models with Externalities," Levine's Working Paper Archive 1382, David K. Levine.
  2. Mulligan, C.B. & Sala-i-Martin, X., 1992. "Transitional Dynamics in Two-Sector Models of Endogenous Growth," Papers 651, Yale - Economic Growth Center.
  3. Karl Shell, 2010. "A Model of Inventive Activity and Capital Accumulation," Levine's Working Paper Archive 1409, David K. Levine.
  4. Caballe, Jordi & Santos, Manuel S, 1993. "On Endogenous Growth with Physical and Human Capital," Journal of Political Economy, University of Chicago Press, vol. 101(6), pages 1042-67, December.
  5. King, R.G. & Rebelo, S.T., 1989. "Transitional Dynamics And Economic Growth In The Neoclassical Model," RCER Working Papers 206, University of Rochester - Center for Economic Research (RCER).
  6. Benhabib Jess & Perli Roberto, 1994. "Uniqueness and Indeterminacy: On the Dynamics of Endogenous Growth," Journal of Economic Theory, Elsevier, vol. 63(1), pages 113-142, June.
  7. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-37, October.
  8. Azariadis, Costas & Drazen, Allan, 1990. "Threshold Externalities in Economic Development," The Quarterly Journal of Economics, MIT Press, vol. 105(2), pages 501-26, May.
  9. Futagami, Koichi & Mino, Kazuo, 1993. "Threshold externalities and cyclical growth in a stylized model of capital accumulation," Economics Letters, Elsevier, vol. 41(1), pages 99-105.
  10. Maddison, Angus, 1987. "Growth and Slowdown in Advanced Capitalist Economies: Techniques of Quantitative Assessment," Journal of Economic Literature, American Economic Association, vol. 25(2), pages 649-98, June.
  11. Benhabib, Jess & Farmer, Roger E.A., 1991. "Indeterminacy and Increasing Returns," Working Papers 91-59, C.V. Starr Center for Applied Economics, New York University.
  12. Greiner, Alfred & Hanusch, Horst, 1994. "Schumpeter's Circular Flow, Learning by Doing and Cyclical Growth," Journal of Evolutionary Economics, Springer, vol. 4(3), pages 261-71, September.
  13. Christophe Chamley, 1991. "Externalities and Dynamics in Models of "Learning or Doing"," Boston University - Institute for Economic Development 17, Boston University, Institute for Economic Development.
  14. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
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Cited by:

  1. Keiichi Morimoto & Takeo Hori & Noritaka Maebayashi & Koichi Futagami, 2013. "Fiscal Sustainability, Macroeconomic Stability, and Welfare under Fiscal Discipline in a Small Open Economy," Discussion Papers in Economics and Business 13-07, Osaka University, Graduate School of Economics and Osaka School of International Public Policy (OSIPP).
  2. Andreas Pyka & Uwe Cantner & Jens J. Krueger, 1999. "Twin-Peaks - What the Knowledge-Based Approach Can Say about the Dynamics of the World Income Distribution," Discussion Paper Series 189, Universitaet Augsburg, Institute for Economics.
  3. Dmitri Kolyuzhnov & Anna Bogomolova, 2004. "Escape Dynamics: A Continuous Time Approximation," Econometric Society 2004 Latin American Meetings 27, Econometric Society.
  4. Slobodyan, Sergey, 2005. "Indeterminacy, sunspots, and development traps," Journal of Economic Dynamics and Control, Elsevier, vol. 29(1-2), pages 159-185, January.
  5. Alfred Greiner & Jens J. Krueger, 2001. "Indeterminacy and the distribution of growth rates," Economics Bulletin, AccessEcon, vol. 15(6), pages 1-8.
  6. Wirl, Franz, 2002. "Stability and limit cycles in competitive equilibria subject to adjustment costs and dynamic spillovers," Journal of Economic Dynamics and Control, Elsevier, vol. 26(3), pages 375-398, March.
  7. Bambi, Mauro & Gozzi, Fausto & Licandro, Omar, 2014. "Endogenous growth and wave-like business fluctuations," Journal of Economic Theory, Elsevier, vol. 154(C), pages 68-111.
  8. Manfredi, Piero & Fanti, Luciano, 2004. "Cycles in dynamic economic modelling," Economic Modelling, Elsevier, vol. 21(3), pages 573-594, May.
  9. Dmitri Kolyuzhnov & Anna Bogomolova, 2004. "Escape Dynamics: A Continuous Time Approximation," Econometric Society 2004 Far Eastern Meetings 557, Econometric Society.
  10. Tatsuro Iwaisako & Koichi Futagami, 2013. "Patent protection, capital accumulation, and economic growth," Economic Theory, Springer, vol. 52(2), pages 631-668, March.
  11. Iwaisako, Tatsuro, 2002. "Technology choice and patterns of growth in an overlapping generations model," Journal of Macroeconomics, Elsevier, vol. 24(2), pages 211-231, June.
  12. Dmitri Kolyuzhnov & Anna Bogomolova, 2004. "Escape Dynamics: A Continuous Time Approximation," Computing in Economics and Finance 2004 190, Society for Computational Economics.
  13. Psarianos, Iacovos N., 2007. "A note on work-leisure choice, human capital accumulation, and endogenous growth," Research in Economics, Elsevier, vol. 61(4), pages 208-217, December.

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