CAN TRANSITION DYNAMICS EXPLAIN THE INTERNATIONAL OUTPUT DATA?

Chris Papageorgiou () and Fidel Perez-Sebastian
Authors registered in the RePEc Author Service: Fidel Perez Sebastian

Macroeconomic Dynamics, 2004, vol. 8, issue 4, 466-492

Abstract: This paper studies the transition dynamics predictions of an R&D-based growth model, and evaluates their performance in explaining income disparities across nations. We find that the fraction of the observed cross-country income variation explained by the transitional dynamics of the model is as large as the one accounted for by existing steady-state level regressions. Our results suggest that the traditional view of a world in which nations move along their distinct balanced-growth paths is as likely as the one in which countries move along adjustment paths toward a common (very long run) steady state.

Date: 2004
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Citations: View citations in EconPapers (9)

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Working Paper: Can Transition Dynamics Explain the International Output Data? (2003)
Working Paper: CAN TRANSITION DYNAMICS EXPLAIN THE INTERNATIONAL OUTPUT DATA? (2001)
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Persistent link: https://EconPapers.repec.org/RePEc:cup:macdyn:v:8:y:2004:i:04:p:466-492_03

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