| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP2523 |
| DP2523 Industrial Employment, Investment Equipment and Economic Growth | |
| Harris Dellas | |
| 发表日期 | 2000-08-29 |
| 出版年 | 2000 |
| 语种 | 英语 |
| 摘要 | This paper proposes an empirical growth model which is consistent with a stochastic steady-state labour productivity level varying over time and across countries, where the disequilibrium mechanism leading to long-run equilibrium follows a nonlinear equilibrium correction model. Using data for the G7 economies during the postwar period since 1950, the empirical analysis yields a long-run model which implies plausible estimates of the production function parameters. Postwar economic growth in each of the G7 countries appears to be well characterized by a nonlinear equilibrium correction model where the dynamic adjustment towards long-run equilibrium is governed by a logistic function, while also capturing spillover effects in growth dynamics. |
| 主题 | International Macroeconomics |
| 关键词 | Economic growth Nonlinear dynamics Equilibrium correction Spillover |
| URL | https://cepr.org/publications/dp2523 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/531599 |
| 推荐引用方式 GB/T 7714 | Harris Dellas. DP2523 Industrial Employment, Investment Equipment and Economic Growth. 2000. |
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