PRIVILEGGI Fabio (2010), "On the Transition Dynamics in Endogenous Recombinant Growth Models", pp. 251-278, in Gian Italo BISCHI, Carl CHIARELLA e Laura GARDINI (a cura di), Nonlinear dynamics in economics, finance and social sciences, Springer-Verlag:Berlino - Germania.
Codici J.E.L: C61, O31, O41
Parole chiave: Knowledge Production, Recombinant Expansion Process, Endogenous Balanced Growth, Turnpike, Transition Dynamics
This paper is a first attempt at studying the transition dynamics of
the Tsur and Zemel (2007) continuous time endogenous growth framework in which
knowledge evolves according to the Weitzman (1998) recombinant process. For a
specific choice of the probability function characterizing the
recombinant process, we find a suitable transformation for the state and
control variables diverging to asymptotic constant
growth, so that an equivalent `detrended' system converging to a steady state
in the long run can be tackled. Since the dynamical system obtained so far
turns out to be analytically intractable, we rely on numerical simulation in
order to fully describe the transition dynamics for a set of values of the
link to book
Progetto di ricerca: Proprietà intellettuale, fallimenti di mercato ed efficienza Di più...