Effects of temporal heterogeniety in the Baumol-Wolff productivity growth model

Hassan Sedaghat ()
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Hassan Sedaghat: Department of Mathematical Sciences, Virginia Commonwealth University, Richmond, VA 23284-2014, USA

Economic Theory, 2000, vol. 15, issue 2, 498 pages

Abstract: In their utilization of R&D (information) output, different sectors of a heterogeneous industry display different reaction times. This paper analyzes the effects of this temporal heterogeniety on output and productivity for an extended version of the Baumol-Wolff model. Results include conditions implying persistent, non-decaying oscillations in the output and hence also in the productivity rate.

Keywords: Heterogeneous sectors; Reaction times; Productivity rate; Higher order difference equation; Instability; Oscillation. (search for similar items in EconPapers)
JEL-codes: C62 O32 O41 O47 (search for similar items in EconPapers)
Date: 2000-02-21
Note: Received: January 26, 1998; revised version: January 8, 1999
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