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On the transition dynamics in endogenous recombinant growth models

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  • Privileggi, Fabio

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Abstract

This paper constitutes a first attempt at studying the transition dynamics of the Tsur and Zemel (2007) continuous time endogenous growth framework in which knowledge evolves according to the Weitzman (1998) recombinant process. For a specific choice of the probability function characterizing the Weitzman recombinant process, we find a suitable transformation for the state and control variables in the dynamical system diverging to asymptotic constant growth, so that an equivalent 'detrended' system converging to a steady state in the long run can be tackled. Since the dynamical system obtained so far turns out to be analytically intractable, we rely on numerical simulation in order to fully describe the transition dynamics for a set of values of the parameters.

Suggested Citation

  • Privileggi, Fabio, 2008. "On the transition dynamics in endogenous recombinant growth models," POLIS Working Papers 120, Institute of Public Policy and Public Choice - POLIS.
  • Handle: RePEc:uca:ucapdv:120
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    References listed on IDEAS

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    5. Zanola, Roberto, 2008. "Consumer preferences for circus: A cluster approach," POLIS Working Papers 109, Institute of Public Policy and Public Choice - POLIS.
    6. Michele Giuseppe Giuranno, 2009. "Regional Income Disparity and the Size of the Public Sector," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 11(5), pages 697-719, October.
    7. Privileggi, Fabio, 2008. "On the transition dynamics in endogenous recombinant growth models," POLIS Working Papers 120, Institute of Public Policy and Public Choice - POLIS.
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    9. Piero Cavaleri & Michael Keren & Giovanni B. Ramello & Vittorio Valli, 2009. "Publishing an E-Journal on a Shoe String: Is It a Sustainable Project?," Economic Analysis and Policy, Elsevier, vol. 39(1), pages 89-101, March.
    10. Ippoliti, Roberto, 2008. "L'incentivazione economica nei problemi di agenzia: il caso dell'Azienda Sanitaria Pubblica," POLIS Working Papers 108, Institute of Public Policy and Public Choice - POLIS.
    11. Casey B. Mulligan & Xavier Sala-i-Martin, 1991. "A Note on the Time-Elimination Method For Solving Recursive Dynamic Economic Models," NBER Technical Working Papers 0116, National Bureau of Economic Research, Inc.
    12. Cassone, Alberto & Zaccarella, Pietro, 2009. "Il bilancio sociale delle universita'. Inventario dei problemi e analisi comparata delle esperienze italiane," POLIS Working Papers 117, Institute of Public Policy and Public Choice - POLIS.
    13. Brosio, Giorgio & Zanola, Roberto, 2008. "The welfare costs of national standards: a contribution to the debate on the outcomes of de/centralization," POLIS Working Papers 113, Institute of Public Policy and Public Choice - POLIS.
    14. Matteo Migheli, 2012. "Assessing Trust Through Social Capital? A Possible Experimental Answer," American Journal of Economics and Sociology, Wiley Blackwell, vol. 71(2), pages 298-327, April.
    15. Tsur, Yacov & Zemel, Amos, 2007. "Towards endogenous recombinant growth," Journal of Economic Dynamics and Control, Elsevier, vol. 31(11), pages 3459-3477, November.
    16. Migheli, Matteo & Ortona, Guido & Ponzano, Ferruccio, 2009. "A preliminary simulative assessment of disproportionality indices," POLIS Working Papers 116, Institute of Public Policy and Public Choice - POLIS.
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    Citations

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    Cited by:

    1. Marchese, Carla & Marsiglio, Simone & Privileggi, Fabio & Ramello, Giovanni, 2014. "Endogenous Recombinant Growth through Market Production of Knowledge and Intellectual Property Rights," Department of Economics and Statistics Cognetti de Martiis. Working Papers 201413, University of Turin.
    2. repec:uto:dipeco:201338 is not listed on IDEAS
    3. Marchese, Carla & Marsiglio, Simone & Privileggi, Fabio & Ramello, Giovanni B., 2017. "Endogenous Recombinant Growth and Intellectual Property Rights," IEL Working Papers 23, Institute of Public Policy and Public Choice - POLIS.
    4. Privileggi, Fabio, 2008. "On the transition dynamics in endogenous recombinant growth models," POLIS Working Papers 120, Institute of Public Policy and Public Choice - POLIS.
    5. Fabio Privileggi, 2011. "Transition Dynamics in Endogenous Recombinant Growth Models by Means of Projection Methods," Computational Economics, Springer;Society for Computational Economics, vol. 38(3), pages 367-387, October.
    6. Bondonio, Daniele, 2009. "Impact identification strategies for evaluating business incentive programs," POLIS Working Papers 129, Institute of Public Policy and Public Choice - POLIS.
    7. Orso, Cristina Elisa, 2009. "Formal and informal sectors: Interactions between moneylenders and traditional banks in the rural Indian credit market," POLIS Working Papers 135, Institute of Public Policy and Public Choice - POLIS.
    8. Giuranno, Michele, 2009. "The logic of party coalitions with political activism and public financing," POLIS Working Papers 134, Institute of Public Policy and Public Choice - POLIS.
    9. Privileggi, Fabio & Marsiglio, Simone, 2014. "Dynamics and Welfare in Recombinant Growth Models with Intellectual Property Rights: a Computational Method," Department of Economics and Statistics Cognetti de Martiis. Working Papers 201414, University of Turin.

    More about this item

    Keywords

    Knowledge Production; Recombinant Expansion Process; Endogenous Balanced Growth; Turnpike; Transition Dynamics;

    JEL classification:

    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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