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There is a family of models with physical and human capital and R&D for which convergence properties have been discussed [Lutz G. Arnold, <italic>European Economic Review</italic> 44, 1599–1605 (2000); Manuel Gómez, <italic>Studies in Nonlinear Dynamics and Econometrics</italic> 9(1), Article 5 (2005)]. However, spillovers in...
Persistent link: https://www.econbiz.de/10009002963
This note shows that Lemma 3 in the paper by Tiago N. Sequeira [R&D spillovers in an endogenous growth model with physical capital, human capital and varieties, <italic>Macroeconomic Dynamics</italic> (2011)] is insufficient to guarantee stability and provides an alternative sufficient condition for stability.
Persistent link: https://www.econbiz.de/10011121005