Robust endogenous growth

Pietro Peretto

European Economic Review, 2018, vol. 108, issue C, 49-77

Abstract: This paper studies a generalization of the Schumpeterian models with endogenous market structure that allows the overall production structure to be more than linear in the growth-driving factor and yet generates endogenous growth, defined as steady-state, constant, exponential growth of income per capita. This version of modern growth theory, therefore, is robust in the sense that its key result obtains for a thick set of parameter values instead of, as often claimed, for a set of measure zero. The paper, moreover, pays close attention to transitional dynamics, showing not only the existence but also the global stability of the endogenous-growth steady state.

Keywords: Endogenous Growth; Endogenous Market Structure (search for similar items in EconPapers)
JEL-codes: E10 L16 O31 O40 (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (25)

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Working Paper: Robust endogenous growth (2016)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:eecrev:v:108:y:2018:i:c:p:49-77

DOI: 10.1016/j.euroecorev.2018.06.007

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