Numerous cross-sectional tests have been performed to evaluate the predictions of recent growth theories such as the Uzawa-Lucas growth model. In a series of papers and in his book, Jones (1995a, 1995b, 1997) has shifted the attention toward the time series predictions of endogenous growth models. By contrasting endogenous growth models with facts, one is frequently confronted with the predicti...

This paper presents a simple North-South model of endogenous growth, based on learning by doing, which is consistent with the following empirical observations: (i) the price of investment goods relative to consumption goods has been falling for the last 40 years in most industrialized countries, (ii) poor countries are net importers of investment equipment and (iii) after a period of initial co...

We modify a Lucas-type endogenous growth model to contain endogenous labour supply, imperfect international capital movements, and estimated interest and education time functions. Solutions based on realistic calibrations show that (i) the rate of human capital depreciation through ageing has a much stronger negative impact on growth than further changes in the population growth rate or the Fri...

A possible alternative to the Solow-Swan model is some variant of a model of endogenous growth either in the form of the AK model developed by Romer (1986), Lucas (1988) and Rebelo (1991) or in the subsequent group of models by Romer (1990), Grossman and Helpman (1991a, b), and Aghion and Howitt (1992) that focus more explicitly on the determinants of technological change. In this article we st...

The purpose of this paper is to set endogenous or new growth theory against broader developments within economics as a discipline. As a topic, irrespective of its intellectual antecedents, endogenous growth theory is extremely recent, only dating back in acknowledged published form to Romer's (1986) article which is usually coupled with Lucas' (1988) contribution. Within a decade, the literatur...

We solve an N ∈ N player general-sum differential game. The optimization problem considered here is based on the Uzawa Lucas model of endogenous growth. Agents have logarithmic preferences and own two capital stocks. Since the number of players is an arbitrary fixed number N ∈ N, the model’s solution is more general than the idealized concepts of the social planer’s solution with one player or ...

researches in exploring of driving forces of regional endogenous development, concentrate on subjects which have been so controversial. regional endogenous development (red), together with other core regional development concepts, is usually focused on the sub-national regional development process of the home country. this paper attempts to conceptualize and examine regional endogenous developm...

This paper examines the existence and nature of equilibria and balanced growth paths in the Uzawa-Lucas two-sector endogenous growth model with elastic labor supply. We demonstrate that it is not possible to merely insert a labor-leisure choice into the model, as has occasionally been done in in the past— the resulting …rst order conditions for the representative agent violate the Pontyagrin ma...