On Convergence in Endogenous Growth Models
In this paper we analyze the rate of convergence to a balanced path in a class of endogenous growth models with physical and human capital. We show that such rate depends locally on the technological parameters of the model, but does not depend on those parameters related to preferences. These results stand in sharp contrast with those of the one-sector neoclassical growth model where both preferences and technologies determine the speed of convergence toward a steady state.
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- Andrew B. Bernard & Steven N. Durlauf, 1991. "Convergence of International Output Movements," NBER Working Papers 3717, National Bureau of Economic Research, Inc.
- 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 1042-1067, December.
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- Lucas, Robert E, Jr, 1990. "Supply-Side Economics: An Analytical Review," Oxford Economic Papers, Oxford University Press, vol. 42(2), pages 293-316, April.
- Casey B. Mulligan & Xavier Sala-i-Martin, 1993. "Transitional Dynamics in Two-Sector Models of Endogenous Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 108(3), pages 739-773.
- Santos, Manuel S, 1991. "Smoothness of the Policy Function in Discrete Time Economic Models," Econometrica, Econometric Society, vol. 59(5), pages 1365-1382, September.
- Santos, Manuel S. & Vila, Jean-Luc, 1991. "Smoothness of the policy function in continuous-time economic models : The one-dimensional case," Journal of Economic Dynamics and Control, Elsevier, vol. 15(4), pages 741-753, October.
- King, R.G. & Rebelo, S.T., 1989.
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206, University of Rochester - Center for Economic Research (RCER).
- King, Robert G & Rebelo, Sergio T, 1993. "Transitional Dynamics and Economic Growth in the Neoclassical Model," American Economic Review, American Economic Association, vol. 83(4), pages 908-931, September.
- Robert G. King & Sergio T. Rebelo, 1989. "Transitional Dynamics and Economic Growth in the Neoclassical Model," NBER Working Papers 3185, National Bureau of Economic Research, Inc.
- N. Gregory Mankiw & David Romer & David N. Weil, 1992.
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- Ladron-de-Guevara, Antonio & Ortigueira, Salvador & Santos, Manuel S., 1997.
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- Santos, Manuel S. & Ortigueira, Salvador & Ladrón de Guevara, Antonio, 1994. "Equilibrium dynamics in two-sector models of endogenous growth," UC3M Working papers. Economics 2913, Universidad Carlos III de Madrid. Departamento de Economía.
- Antonio Ladron de Guevara & Salvador Ortigueira & Manuel S. Santos, 1994. "Equilibrium Dynamics in Two-Sector Models of Endogenous Growth," Working Papers 9403, Centro de Investigacion Economica, ITAM.
- 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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