The Segerstrom Model: Stability, Speed of Convergence and Policy Implications
Thomas Steger ()
Economics Bulletin, 2003, vol. 15, issue 4, 1-8
This short paper presents a simple analytical stability proof for the well-known Segerstrom (1998) model of endogenous growth. Moreover, a calibrated version of the model is employed to assess the speed of convergence. The result shows that transitional dynamics are important and, hence, the policy ineffectiveness proposition of non-scale endogenous growth models must be qualified.
JEL-codes: O0 N1 (search for similar items in EconPapers)
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