Using general to simple methods, J. M. Boughton (1993) develops an econometric model that fits almost as well as Y. Baba, D. F. Hendry, and R. M. Starr (BHS) (1992) but differs in economic implications and dynamic adjustments. He claims the new model is constant, is not encompassed by BHS, but...

An endogenous growth model is presented in which production uses a vector of capital inputs. Technologies for creating capital of different types vary by gestation period and productivity. Ownership of gestating capital must be "rolled over" in secondary capital markets in which transactions are...