Abstract
| Original language | English |
|---|---|
| Pages (from-to) | 159-178 |
| Journal | Journal of Economics |
| Volume | 88 |
| Issue number | 2 |
| DOIs | |
| Publication status | Published - 2006 |
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Growth Volatility and Technical Progress: A Simple Rent-seeking Model. / Leung, C.K.Y.; Tang, Sam; Groenewold, Nicolaas.
In: Journal of Economics, Vol. 88, No. 2, 2006, p. 159-178.Research output: Contribution to journal › Article
TY - JOUR
T1 - Growth Volatility and Technical Progress: A Simple Rent-seeking Model
AU - Leung, C.K.Y.
AU - Tang, Sam
AU - Groenewold, Nicolaas
PY - 2006
Y1 - 2006
N2 - Recent empirical evidence demonstrates that a higher level of technical progress is associated with a lower level of growth volatility and higher expected economic growth. This paper builds a simple growth model which combines the insights of Angeletos and Kollintzas (2000) and Tse (2000; 2001; 2002) with endogenous productivity growth and rent-seeking behavior to account for these stylized facts. Our model complements the literature that focuses on the heterogeneity of different agents.
AB - Recent empirical evidence demonstrates that a higher level of technical progress is associated with a lower level of growth volatility and higher expected economic growth. This paper builds a simple growth model which combines the insights of Angeletos and Kollintzas (2000) and Tse (2000; 2001; 2002) with endogenous productivity growth and rent-seeking behavior to account for these stylized facts. Our model complements the literature that focuses on the heterogeneity of different agents.
U2 - 10.1007/s00712-005-0162-6
DO - 10.1007/s00712-005-0162-6
M3 - Article
VL - 88
SP - 159
EP - 178
JO - Journal of Economics
JF - Journal of Economics
SN - 0931-8658
IS - 2
ER -