Utilize este identificador para referenciar este registo:
http://hdl.handle.net/10071/8311
Autoria: | Sequeira, T. N. Ferreira-Lopes, A. Gomes, O. |
Data: | 2014 |
Título próprio: | A growth model with qualities, varieties, and human capital: stability and transitional dynamics |
Volume: | 18 |
Número: | 5 |
Paginação: | 543-555 |
ISSN: | 1081-1826 |
Palavras-chave: | Vertical and horizontal R&D Human capital Endogenous growth models Steady-state stability Transitional dynamics |
Resumo: | This article analyses the stability properties of the steady-state and the transitional dynamics of an endogenous growth model with human capital, increasing-varieties R&D, and quality-ladders R&D [Strulik, 2005, Review of International Economics, 13 (1): 129-145]. We show that when spillovers within R&D sectors are higher than spillovers across the two R&D sectors, the equilibrium is unstable. However, when spillovers between sectors are higher than within, the equilibrium is a saddle-path. This result emphasizes the need for empirical research that compares quantitatively the importance of these two types of spillovers and highlights the importance of studying intersectoral effects between the two R&D sectors. We describe plausible paths of economic development after changes in crucial parameters and uncover some transitional effects that were impossible to detect in the steady-state analysis. We also show that this model's transition dynamics can mimic the main features of the process of productivity slowdown that began in the 1970's. |
Arbitragem científica: | Sim |
Acesso: | Acesso Embargado |
Aparece nas coleções: | BRU-RI - Artigos em revistas científicas internacionais com arbitragem científica |
Ficheiros deste registo:
Ficheiro | Descrição | Tamanho | Formato | |
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post_print_studies.pdf Restricted Access | 156,3 kB | Adobe PDF | Ver/Abrir Request a copy |
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