Estimating the dynamics of R&D-based growth models
Several R&D-based models of endogenous economic growth are investigated under the Solow-like assumption of fixed allocation of resources across activities. We identify model parameters that lead to explosive dynamics and analyze various economic techniques to avoid it. The techniques include adding stricter constraints on model trajectories and limiting factors in technology equation. In particular, we demonstrate that our vintage version of the well known R&D-based model of economic growth (Jones, 1995) exhibits the same balanced dynamics as the original model.
|Date of creation:||01 Sep 2008|
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- Raouf Boucekkine & Omar Licandro & Christopher Paul, .
"Differential-Difference Equations in Economics: On the Numerical Solution of Vintage Capital Growth Models,"
Computing in Economics and Finance 1996
_036, Society for Computational Economics.
- Boucekkine, Raouf & Licandro, Omar & Paul, Christopher, 1997. "Differential-difference equations in economics: On the numerical solution of vintage capital growth models," Journal of Economic Dynamics and Control, Elsevier, vol. 21(2-3), pages 347-362.
- Raouf Boucekkine & Natali Hritonenko & Yuri Yatsenko, .
"Optimal Firm Behavior under Environmental Constraints,"
2008_11, Business School - Economics, University of Glasgow.
- Raouf, BOUCEKKINE & Natali, HRITONENKO & Yuri, YATSENKO, 2008. "Optimal firm behavior under environmental constraints," Discussion Papers (ECON - Département des Sciences Economiques) 2008017, Université catholique de Louvain, Département des Sciences Economiques.
- BOUCEKKINE, Raouf & HRITONENKO, Natali & YATSENKO, Yuri, 2008. "Optimal firm behavior under environmental constraints," CORE Discussion Papers 2008024, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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