Roufagalas, John; Orlov, Alexei G. - In: Journal of Economic Studies 47 (2020) 2, pp. 264-285
Purpose: The purpose of the paper is twofold: to construct and analyze a novel endogenous growth model, in which unbounded growth is possible without the need to assume increasing returns to scale, and to use the model to estimate the long-run (or dynamic) costs of recessions....