On convergence in endogenous growth models

Salvador Ortigueira and Manuel Santos

No 110, Discussion Paper / Institute for Empirical Macroeconomics from Federal Reserve Bank of Minneapolis

Abstract: In this paper we analyze the rate of convergence to a balanced path in a class of endogenous growth models with physical and human capital. We show that such rate depends locally on the technological parameters of the model, but does not depend on those parameters related to preferences. This result stands in sharp contrast with that of the one-sector neoclassical growth model, where both preferences and technologies determine the speed of convergence to a steady-state growth path.

Keywords: Economic development; Econometric models (search for similar items in EconPapers)
Date: 1996
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Citations: View citations in EconPapers (9)

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Related works:
Working Paper: On Convergence in Endogenous Growth Models (1994)
Working Paper: On convergence in endogenous growth models (1994)
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