Technological Variations in the AK Model

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62690094%3A18450%2F14%3A50002361" target="_blank" >RIV/62690094:18450/14:50002361 - isvavai.cz</a>
Result on the web
—
DOI - Digital Object Identifier
—

Result language
angličtina
Original language name
Technological Variations in the AK Model
Original language description
The AK growth model is a standard endogenous model. This paper first solves the social planner?s problem in this model and shows that the steady state is the only solution to this model. The paper then considers several generalizations of the AK model onthe side of technology. Unlike the basic AK model, these extensions exhibit transitional dynamics. We derive steady-state equilibria of these AK-type models and shed light on some qualitative characteristics of the transitional dynamics depending on theparameters of the models. We show that there can be finite or asymptotic steady states. In the given extensions of the AK model, the growth rate of the economy is frequently observed to be faster in the beginning than in the asymptotic steady state (there is convergence). In order to show the possible importance of transitional dynamics in real economies, we examine a sample of 22 developed countries in the 1976-2010 period. We focus on the relative stability of the growth rates of real
Czech name
—
Czech description
—

Type
J<sub>x</sub> - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)
CEP classification
AH - Economics
OECD FORD branch
—

Publication year
2014
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Similar results(10)