On the Speed of Convergence in Endogenous Growth Models

Research output: Contribution to journalArticle

85 Scopus citations

Abstract

In this paper we analyze the speed of convergence to a balanced path in a class of endogenous growth models with physical and human capital. We show that such rate depends locally on the technological parameters of the model, but does not depend on preferences parameters. This result stands in sharp contrast with that of the one-sector neoclassical growth model, where both preferences and technologies determine the speed of convergence to a steady-state growth path.

Original languageEnglish (US)
Pages (from-to)383-399
Number of pages17
JournalAmerican Economic Review
Volume87
Issue number3
StatePublished - Jun 1 1997
Externally publishedYes

ASJC Scopus subject areas

  • Economics and Econometrics

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