Growth and convergence in a multi-country empirical stochastic Solow model
نویسندگان
چکیده
منابع مشابه
Solow (1956) as a Model of Cross-Country Growth Dynamics
Despite the widespread popularity of the Solow growth model, much of the recent empirical work based on the classic framework misrepresents a crucial feature of the model. Namely, the growth rate of technological progress, assumed to be exogenous in the Solow model, is often identified as being constant across countries. This simplification of the behavior of technological progess runs counter ...
متن کاملRandom Fixed Points in a Stochastic Solow Growth Model
This paper presents a complete analysis of a stochastic version of the Solow growth model in which all parameters are ergodic random variables. Applying random dynamical systems theory, we prove that the dynamics and, in particular, the long-run behavior is uniquely determined by a globally attracting stable random xed point. We also discuss the relation of our approach to that of ergodic Marko...
متن کاملStochastic shocks in a two-sector Solow model
We study a stochastic, discrete-time, two-sector growth model á-la Solow (1956) characterized by perpetual growth. Assuming that exogenous i.i.d. shocks hit the physical production sector, we show that the capital dynamics can be converted, through an appropriate log-transformation, into an Iterated Function System converging to an invariant distribution supported on a Cantor set.
متن کاملWhat Does The Solow Model Tell Us About Economic Growth ? : Complete and Partial Cross - country
This paper presents, within a framework of the Solow model, evidence that there should be two different reasons for convergence. One is due to diminishing returns to capital and the other is due to technological diffusion. This paper shows that OECD and low income countries follow a pattern of conditional convergence but middle income countries do not. This seems to imply that technological dif...
متن کاملDistributed Generation Expansion Planning Considering Load Growth Uncertainty: A Novel Multi-Period Stochastic Model
Abstract – Distributed generation (DG) technology is known as an efficient solution for applying in distribution system planning (DSP) problems. Load growth uncertainty associated with distribution network is a significant source of uncertainty which highly affects optimal management of DGs. In order to handle this problem, a novel model is proposed in this paper based on DG solution, consideri...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Journal of Applied Econometrics
سال: 1997
ISSN: 0883-7252,1099-1255
DOI: 10.1002/(sici)1099-1255(199707)12:4<357::aid-jae441>3.0.co;2-t