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Endogenous Tfp and Cross-Country Income Differences

  • Cordoba, Juan Carlos
  • Ripoll, Marla

Using a class of endogenous growth models that exhibit international spillovers, we show that most of the cross-country differences in output per worker are explained by barriers to the accumulation of rival factors (physical and human capital) rather than by barriers to the accumulation of knowledge. This is shown theoretically, by comparing models with exogenous and endogenous TFP, and quantitatively by using a carefully calibrated version of the model. The main finding is that barriers to the accumulation of physical and human capital explain up to 64% of income gaps relative to the US.

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Paper provided by Iowa State University, Department of Economics in its series Staff General Research Papers Archive with number 32116.

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Date of creation: 16 Nov 2010
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Publication status: Published in Journal of Monetary Economics, September 2008, vol. 55 no. 6, pp. 1158-1170
Handle: RePEc:isu:genres:32116
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Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070

Phone: +1 515.294.6741
Fax: +1 515.294.0221
Web page: http://www.econ.iastate.edu
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