On the transitional dynamics and policy analysis of the Romer (1990) model

Rongsheng Tang, Gaowang Wang and Jin Wang

MPRA Paper from University Library of Munich, Germany

Abstract: In this paper we prove the existence, uniqueness and saddle-point stability of the steady state (or balanced growth path) of the Romer (1990) model by utilizing the reduction of dimensionality. Furthermore, we found out a set of policy instruments to improve the monopolistic competitive equilibrium allocation up to social optimum.

Keywords: BGP; Reduction of Dimensionalty; Social Optimum. (search for similar items in EconPapers)
JEL-codes: C62 O3 O41 (search for similar items in EconPapers)
Date: 2019-09-22
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https://mpra.ub.uni-muenchen.de/96132/1/MPRA_paper_96132.pdf original version (application/pdf)
https://mpra.ub.uni-muenchen.de/96247/1/MPRA_paper_96247.pdf revised version (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:96132

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