This paper presents a methodology for the formulation and testing of economic growth models. The model selected includes two production sectors with physical and human capital accumulation. These capital stocks are associated with spillover effects in the production of the physical good and in the accumulation of both factors.
- JEL Classification:E1, O3, O4
- Key words:Basic facts, economic growth model, balanced growth path, calibration, testing
ASJC Scopus subject areas
- Economics, Econometrics and Finance(all)