Publications des institutions partenaires
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Endogenous Growth, Semi-endogenous Growth... or Both? A Simple Hybrid Model
First generation endogenous growth models had the counterfactual implication that the long-term growth of per-capita GDP increased with the population size. Two influential growth paradigms, the semi-endogenous and the second generation fully endogenous, eliminated this strong scale effect. Both solutions have useful aspects and
insights, but very different policy implications...
Institution partenaire
Imbalanced Catch-up to Rational Expectations: Capital Flows during Convergence
How long shall a country take to learn the world technological frontier? What would happen if that country found the same difficulties in learning the true model of its economy? After all, countries catching up often experience life-changing transformations during the catch-up to a balanced growth path. We show that an open economy, learning rational expectations alongside foreign...
Institution partenaire
The Imbalanced Catch-up to Rational Expectations: Capital Flows during Convergence
How long shall a country take to learn the world technological frontier? What would happen if that country found the same difficulties in learning the true model of its economy? After all, countries catching up often experience life-changing transformations during the catch-up to a balanced growth path. We show that an open economy, learning rational expectations alongside foreign...
Institution partenaire
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