This note explores the persistence properties of a class of models proposed by Jones, Manuelli and Siu (2000) where growth stems from purposeful human capital accumulation. In doing so, we adopt Cogley and Nason's (1995) definition of output persistence. The propagation mechanism exhibited by...

This note explores the persistence properties of a class of models proposed by Jones, Manuelli and Siu (2000) where growth stems from purposeful human capital accumulation. In doing so, we adopt Cogley and Nason's (1995) definition of output persistence. The propagation mechanism exhibited by...

This paper quantifies the welfare costs of inflation in an endogenous growth setup when transitional dynamics are taken into account. We report much smaller costs than when these dynamics are omitted.

This paper quantifies the welfare costs of inflation in an endogenous growth setup when transitional dynamics are taken into account. We report much smaller costs than when these dynamics are omitted.

This paper quantifies the welfare costs of inflation in an endogenous growth setup where transitional dynamics are taken into account. We report much smaller costs than in the litterature.