Tiago Cavalcanti (),
Chryssi Giannitsarou () and
Charles R. Johnson
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Charles R. Johnson: College of William and Mary
Economic Theory, 2017, vol. 64, issue 1, No 1, 21 pages
Abstract We define a measure of network cohesion and show how it arises naturally in a broad class of dynamic models of endogenous perpetual growth with network externalities. Via a standard growth model, we show why network cohesion is crucial for conditional convergence and explain that as cohesion increases, convergence is faster. We prove properties of network cohesion and define a network aggregator that preserves network cohesion.
Keywords: Network theory; Endogenous growth models; Convergence; Consensus; D85; O40; D62 (search for similar items in EconPapers)
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