Mean growth and stochastic stability in endogenous growth models

Front stability in mean-field models of diffusion-limited growth.

We present calculations of the stability of planar fronts in two mean field models of diffusion limited growth. The steady state solution for the front can exist for a continuous family of velocities, we show that the selected velocity is given by marginal stability theory. We find that naive mean field theory has no instability to transverse perturbations, while a threshold mean field theory h...

Endogenous Growth Models

Much of the recent literature distinguishes between exogenous and endogenous growth models. We have studied the former, and now we look at the latter. What is the difference? The importance difference is that in the former the steady-state growth rate is determined exogenously, e.g., technical change. In the latter, it is determined endogenously. The models are interesting because they often le...

Endogenous growth promotors and inhibitors in tahiti lime

Stability of stochastic optimal growth models: a new approach

The paper proposes an Euler equation technique for analyzing the stability of differentiable stochastic programs. The main innovation is to use marginal reward directly as a Foster–Lyapunov function. This allows us to extend known stability results for stochastic optimal growth models, both weakening hypotheses and strengthening conclusions. JEL classification: C61; C62; O41

Stochastic Models of Growth∗

In these notes we describe the existing results on the effects of ‘volatility,’ both in technologies and policies, on the long-run growth rate. We start with a brief summary of the empirical research in this area, and we then describe some simple theoretical models that are useful in understanding the empirical results. We end with the description of some recent work based on the theoretical mo...