Barañano, Ilaski; Moral, M. Paz - In: Economics Bulletin 5 (2003) 15, pp. 1-13
The aim of this paper is to assess the importance of RBC models with endogenous growth in characterizing the observed output dynamics. In particular, this article considers a stochastic version of Lucas' (1988) model in the absence of externalities in discrete time with two modifications: agents...