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What Does the Solow Model Tell Us about Economic Growth?
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Toshihiro Okada
Veröffentlicht/Copyright:
17. April 2006
Abstract
This paper presents, within a framework of the Solow model, evidence that there are significant differences in convergence patterns across subsamples. It shows that although OECD countries and the countries converging to their steady states from above follow a pattern of conditional convergence, those converging to their steady states from below do not. This result is best explained by the idea that technology diffusion has a large effect mainly on the countries converging to their steady states from below.
Published Online: 2006-04-17
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Artikel in diesem Heft
- Heterogeneity in Price Stickiness and the Real Effects of Monetary Shocks
- Frontiers Article
- 10.2202/1534-6013.1320
- Advances Article
- Monetary Policy and Uncertainty about the Natural Unemployment Rate: Brainard-Style Conservatism versus Experimental Activism
- Quantifying the Effects of the Demographic Transition in Developing Economies
- Inflation, Prices, and Information in Competitive Search
- Contributions Article
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- Job Separation Under Uncertainty and the Wage Distribution
- A Closed Form Solution to the Ramsey Model
- Convergence and Stability in U.S. Employment Rates
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- Consumption and Health
- Capital Maintenance versus Technology Adoption Under Embodied Technical Progress
- Let a Thousand Models Bloom: The Advantages of Making the FOMC a Truly 'Open Market'
- Does Inflation Grease the Wheels of the Labor Market?
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- A Search-Theoretic Monetary Business Cycle Model with Capital Formation
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