Endogenous growth and economic fluctuations

Ilaski Barañano ()

Investigaciones Economicas, 2001, vol. 25, issue 3, 515-541

Abstract: The specific contribution of endogenous growth models to RBC literature remains unclear since, although the implication of assuming endogenous growth for explaining aggregate fluctuations has already been considered for instance by Gomme (1993) and Ozlu (1996), these papers introduce additional shocks in order to reproduce some labor market fluctuations. In this paper we attempt to identify the success of some endogenous growth models in mimicking some key aspects of labor market behaviour while retaining a single shock. This paper shows that the introduction of an activity competing with the final output production activity may help to explain some labor market features, there being no need to introduce any additional source of uncertainty as is usually done in standard growth models. (Copyright: Fundación Empresa Pública)

Keywords: real business cycles; aggregate fluctuations; endogenous growth; propagation mechanism (search for similar items in EconPapers)
JEL-codes: E32 O41 (search for similar items in EconPapers)
Date: 2001
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