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来源类型Working Paper
规范类型报告
DOI10.3386/w3241
来源IDWorking Paper 3241
A Convex Model of Equilibrium Growth
Larry E. Jones; Rodolfo Manuelli
发表日期1990
出版年1990
语种英语
摘要Our aim in this paper is to exposit a convex model of equilibrium growth. The model is strictly in the Solow tradition. The model has two features which distinguish it from most other work on the subject. These are, first, that the model is convex on the technological side and, eecond, that fixed fatten are explicitly included. The difference between our model and the standard single sector growth model lies in the fact that the marginal product of capital does not converge to zero as the level of inputs go to infinity. Existence and characterization results are provided along with some preliminary analyses of taxation and international trade policies. It is shown that the long-run growth rate in per capita consumption depends, in the natural way, on the parameters describing tastes and technology. Finally, it is shown that some policies have growth effects while others affect only levels. It is demonstrated that in a free trade equilibrium with taxation national growth rates of consumption and output need not converge.
URLhttps://www.nber.org/papers/w3241
来源智库National Bureau of Economic Research (United States)
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条目标识符http://119.78.100.153/handle/2XGU8XDN/560527
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GB/T 7714
Larry E. Jones,Rodolfo Manuelli. A Convex Model of Equilibrium Growth. 1990.
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