Is the Asymptotic Speed of Convergence a Good Proxy for the Transitional Growth Path?

B-Tier
Journal: Journal of Money, Credit, and Banking
Year: 2007
Volume: 39
Issue: 1
Pages: 1-24

Authors (2)

CHRIS PAPAGEORGIOU (International Monetary Fund (I...) FIDEL PEREZ‐SEBASTIAN (not in RePEc)

Score contribution per author:

1.005 = (α=2.01 / 2 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

This paper compares transitional dynamics in two alternative R&D non‐scale growth models, one with endogenous human capital and the other without. We show that focusing only on the asymptotic speed of convergence to discriminate between the two models' performance can be misleading. Our analysis suggests that a careful study of the entire adjustment paths predicted by alternative growth models starting far away from the balanced‐growth path is required in order to successfully discriminate among them.

Technical Details

RePEc Handle
repec:wly:jmoncb:v:39:y:2007:i:1:p:1-24
Journal Field
Macro
Author Count
2
Added to Database
2026-01-28