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We test whether the growth experience of a sample of 21 OECD countries over the past three decades is more consistent with the augmented Solow model or the Uzawa-Lucas model, by exploiting the different non-linear restrictions implied by them as regards the relationship between factor shares and...
Persistent link: https://www.econbiz.de/10009154581
In this paper, we test whether the growth experience of a sample of OECD countries over the past three decades is more consistent with the human-capital augmented Solow model of exogenous growth, or with an endogenous growth model à la Uzawa-Lucas with constant returns to scale to “broad”...
Persistent link: https://www.econbiz.de/10012446905
In this paper, we test whether the growth experience of a sample of OECD countries over the past three decades is more consistent with the human-capital augmented Solow model of exogenous growth, or with an endogenous growth model à la Uzawa-Lucas with constant returns to scale to broad (human...
Persistent link: https://www.econbiz.de/10014220199
Persistent link: https://www.econbiz.de/10003608754
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We test the history-augmented Solow model with respect to its predictions on the patterns of divergence and convergence between the nowadays industrialized countries of the OECD. We show that the dispersion of incomes increased after the Industrial Revolution, peaked during the Second World War,...
Persistent link: https://www.econbiz.de/10011671956
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The following article deals with the basic Solow model of economic growth for the states of the EU-28 and empirically confirms its conclusions. Based on growth accounting, and by analyzing different determinants of the respective steady states of each country, we confirm the importance of...
Persistent link: https://www.econbiz.de/10014547104
What is a good reduced-form representation of Ramsey-Cass-Koopmans. (RCK) model? Solow's model (despite non-optimizing agents) provides predictions largely consistent with a closed-economy RCK but fundamentally differs regarding open-economy income convergence. Where RCK predicts partial income...
Persistent link: https://www.econbiz.de/10012619417