More Lessons from Taking an AK Model to the Data

João Miguel Ejarque () and Ana Balcão Reis ()

No 03-37, Discussion Papers from University of Copenhagen. Department of Economics

Abstract: We take an AK model to the PWT data. In the model both technology (intratemporal) and investment (intertemporal) shocks determine the variation of the growth rate. In earlier work we looked at singular models where we extracted only the technology shock using the policy functions from dynamic optimality. Here we recover time series for both shocks for a panel of countries and we isolate what we believe are pervasive patterns in macroeconomic models and postwar data: a negative correlation between intra and intertemporal shocks, and a somewhat lesser role for the intertemporal shock.

Keywords: endogenous growth; technology shocks; investment shocks (search for similar items in EconPapers)
JEL-codes: E21 E32 O40 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dev
Date: 2003-09
View list of references

Downloads: (external link)
http://www.econ.ku.dk/Research/Publications/pink/2003/0337.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:kud:kuiedp:0337

Ordering information: This working paper can be ordered from

Access Statistics for this paper

More papers in Discussion Papers from University of Copenhagen. Department of Economics
Address: Øster Farimagsgade 5, Building 26, DK-1353 Copenhagen K., Denmark
Contact information at EDIRC.
Series data maintained by Henriette Aabo Hansen ().