Adjustment Costs in A Two-Capital Growth Model

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dc.contributor.author DUCZYNSKI, Petr
dc.date.accessioned 2011-05-09T15:11:39Z
dc.date.available 2011-05-09T15:11:39Z
dc.date.issued 2002
dc.identifier.citation Journal of Economic Dynamics & Control, 2002, 26, 5, 837-850
dc.identifier.issn 0165-1889
dc.identifier.uri http://hdl.handle.net/1814/16971
dc.description.abstract Numerous empirical studies observe that output growth depends positively on human capital and negatively on output. This paper demonstrates that an open-economy neoclassical growth model with large adjustment costs for human capital and moderate adjustment costs for physical capital can provide a rationale for these observations. The model can be calibrated for sufficiently slow conditional convergence. (C) 2002 Elsevier Science B.V. All rights reserved.
dc.title Adjustment Costs in A Two-Capital Growth Model
dc.type Article
dc.neeo.contributor DUCZYNSKI|Petr|aut|
dc.identifier.volume 26
dc.identifier.startpage 837
dc.identifier.endpage 850
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dc.identifier.issue 5


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