Färnstrand Damsgaard, Erika; Krusell, Per - 2010
effects of its own investment, while treating other countries' investments as given. Average world growth is endogenous, as is … general equilibrium model of the world which has externalities: each country invests in TFP and internalizes the dynamic …-run differences in TFP levels and that, in the long run, the world distribution of TFP across countries may be asymmetric, i.e., twin …