Technological Variations in the AK Model

Kód výsledku v 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>

Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

Technological Variations in the AK Model

Popis výsledku v původním jazyce

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

Název v anglickém jazyce

Technological Variations in the AK Model

Popis výsledku anglicky

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

Druh

J_x - Nezařazeno - Článek v odborném periodiku (Jimp, Jsc a Jost)

CEP obor

AH - Ekonomie

OECD FORD obor

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Projekt

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Návaznosti

V - Vyzkumna aktivita podporovana z jinych verejnych zdroju

Rok uplatnění

2014

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

Bulletin of the Czech econometric society

ISSN

1212-074X

e-ISSN

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Svazek periodika

21

Číslo periodika v rámci svazku

32

Stát vydavatele periodika

CZ - Česká republika

Počet stran výsledku

13

Strana od-do

73-85

Kód UT WoS článku

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EID výsledku v databázi Scopus

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