2 edition of Transitional dynamics in two-sector models of endogenous growth found in the catalog.
Transitional dynamics in two-sector models of endogenous growth
Casey B. Mulligan
|Statement||Casey B. Mulligan, Xavier Sala-i-Martin.|
|Series||NBER working papers series -- working paper no. 3986, Working paper series (National Bureau of Economic Research) -- working paper no. 3986.|
|Contributions||Sala-i-Martin, Xavier., National Bureau of Economic Research.|
|The Physical Object|
|Pagination||60,  p. :|
|Number of Pages||60|
This paper offers a comprehensive study on transitional dynamics within R&D-based models of endogenous growth. There are two main motivations. First, the complete dynamic system for the market solution is derived in general form. Second, using this dynamic system as a unifying framework the adjustment process is analysed. In order to answer the question for the relative importance of. Transitional Dynamics in Two-Sector Models of Endogenous Growth. Quarterly Journal of Economics, , Papageorgiou, Christopher and Perez-Sebastian, Fidel (). Growth with technical change and human capital: transition dynamics versus steady state predictions. Working paper, Louisiana State University. Xie, D. (). Divergence in.
Two-sector endogenous growth models behave very similarly to the baseline AK model, but avoid this. Daron Acemoglu (MIT) Economic Growth Lecture 9 Novem 2 / No transitional dynamics: growth rates of consumption, capital and output are constant and given in (9). The range of growth models considered has been extended, with particular attention devoted to transitional dynamics and nonscale growth. The book includes cutting-edge research and .
We analyze the steady state and transitional dynamics of two-sector models of endogenous growth. The necessary conditions for endogenous growth imply that transitions depend only on a measure of the imbalance between the two sectors such as the ratio of the two capital stocks. We use the Time-Elimination method to analyze the transitional dynamics. Contents Preface ix 1 Introduction to economic growth 1 The –eld 1 Economic growth theory.
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Transitional Dynamics in Two-Sector Models of Endogenous Growth Casey B. Mulligan, Xavier Sala-i-Martin. NBER Working Paper No. Issued in February NBER Program(s):Economic Fluctuations and Growth The steady state and transitional dynamics of two-sector models of endogenous growth are analyzed in this by: Get this from a library.
Transitional dynamics in two-sector models of endogenous growth. [Casey B Mulligan; Xavier Sala-i-Martin; National Bureau of Economic Research.]. (PDF) Transitional Dynamics In Two-Sector Models of Endogenous Growth | Casey Mulligan - is a platform for academics to share research papers.
Abstract We analyze the steady state and transitional dynamics of two-sector models of endogenous growth. The necessary conditions for endogenous growth imply that transitions.
The steady state and transitional dynamics of two-sector models of endogenous growth are analyzed in this paper. We describe necessary conditions for endogenous growth. The conditions allow us to reduce the dynamics of the solution to a system with one state-like and two control-like.
What quantitative lessons can we learn from models of endogenous technical change through innovative investments by firms for the impact of changes in the economic environment on the dynamics of aggregate productivity in the short, medium, and long run. We present a unifying model that nests several canonical models in the literature and characterize both their positive implications for the.
Transitional Dynamics in Two-Sector Models of Endogenous Growth. Quarterly Journal of Economics,Papageorgiou, Christopher and Perez-Sebastian, Fidel ().
Growth with technical change and human capital: transition dynamics versus steady state predictions. A General Two-Sector Model of Endogenous Growth with Human and Physical Capital: Balanced Growth and Transitional Dynamics Author links open overlay panel Eric W.
Bond a Ping Wang a Chong K. Yip b c Show more. Two-sector endogenous growth models behave very similarly to the baseline AK model, but avoid this.
Daron Acemoglu (MIT) Economic Growth Lecture 9 Novem 2 / 41 No transitional dynamics in this model. To develop, integrate (9) starting from some c(0), to be determined from the lifetime budget constraint, c(t) = c(0)exp 1 q (A d.
Public Services and Endogenous Growth A Public-Goods Model A Congestion Model Transitional Dynamics, Endogenous Growth A Cobb–Douglas Example A CES Example Concluding Observations Appendix: Endogenous Growth in the One-Sector Model Problems 5Two-Sector Models of.
Transitional Dynamics in Two-sector Models of Endogenous Growth', To submit an update or takedown request for this paper, please submit an Update/Correction/Removal Request. The authors analyze an endogenous growth model with economy–wide increasing returns, in which a public input is essential for private production.
Within such a framework, it is shown that a continuum of equilibria and global indeterminacy can arise for reasonable parameter values, simply due to the presence of endogenous public policy. Testing linear growth rate formulas of non-scale endogenous growth models, Applied Economics, /, (), ().
Crossref. Kazuyoshi Ohki, Analysis of transition dynamics caused by technological breakthroughs. For appropriate parameter values, the transitional dynamics of the model is represented by a two-dimensional stable manifold.
This provides much richer dynamics than that of the standard two-sector endogenous growth model which is characterized by a one-dimensional stable manifold.
A General Two-Sector Model of Endogenous Growth with Human and Physical Capital: Balanced Growth and Transitional Dynamics. Abstract. Tsur and Zemel () developed an endogenous growth model in which balanced long-run growth is obtained by assuming that the stock of knowledge evolves according toWeitzman’s () recombinant expansion process and is used, together with physical capital, as input factor by competitive firms in order to produce a unique physical good.
Mulligan, C. and Sala i Martin, X.: Transitional dynamics in two-sector models of endogenous growth. Quarterly Journal of Economics– () CrossRef Google Scholar Pontryagin, L. This paper explores the dynamics of semiendogenous versus fully endogenous growth models in “lab equipment” specifications of the models with expanding sectors.
Capital is allowed to accumulate and is used, together with other inputs, to produce new knowledge. Transitional dynamics in a two-sector nonscale growth model.
The Uzawa–Lucas model is an economic model of endogenous growth developed by Robert Lucas, Jr., building upon initial contributions by Hirofumi Uzawa. It extends the AK model by a two-sector setup, in which physical and human capital are produced by different technologies. The model explains long-run economic growth as consequence of human capital accumulation.
two-sector endogenous growth model. The model is a straightforward extension of the KR model, allowing for endogenous labour supply.
We develop a framework in which the transitional dynamics outside balanced growth paths are explicitly computed. The aims of the paper are (a) to explore the effects of taxation on long. w Transitional Dynamics in Two-Sector Models of Endogenous Growth National Bureau of Economic Research, Massachusetts Ave., Cambridge, MA ; ; email: [email protected] Contact Us.Chapter First-Generation Models of Endogenous Growth The AK Model Revisited The AK Model with Physical and Human Capital The Two-Sector AK Model Growth with Externalities Taking Stock References and Literature Exercises Part 4.
Endogenous Technological Change On the transitional dynamics and policy analysis of the Romer () model Mulligan, C.B., and Sala-i-Martin, X., Transitional Dynamics in Two-sector Models of Endogenous Growth. Quarterly Journal of EconomicsRomer, P., Endogenous Technological Change.
Journal of Political Economy 98(5),