Saving rates, trade, technology, and stochastic dynamics

Bjarne S. Jensen*, Martin Richter, Chunyan Wang, Preben K. Alsholm

*Kontaktforfatter for dette arbejde

Publikation: Bidrag til tidsskriftReviewForskningpeer review

Resumé

This paper develops a framework for analyzing the stochastic dynamics of small growing trading economies with CES sector technologies. The open neoclassical two-sector growth model with a diffusion process (uncertainty) for the aggregate saving/investment ratio is demonstrated with sample paths and long-run probability distributions of the overall factor endowment ratio. Stochastic endogenous growth and cycles require a combination of fundamental growth parameter values: saving rates, terms of trade, and sectorial substitution elasticities.

OriginalsprogEngelsk
TidsskriftReview of Development Economics
Vol/bind5
Udgave nummer2
Sider (fra-til)182-204
ISSN1363-6669
DOI
StatusUdgivet - 2001
Udgivet eksterntJa

Fingeraftryk

endogenous growth
terms of trade
investment ratio
elasticity
substitution
uncertainty
economy
rate
distribution
parameter

Citer dette

Jensen, Bjarne S. ; Richter, Martin ; Wang, Chunyan ; Alsholm, Preben K. / Saving rates, trade, technology, and stochastic dynamics. I: Review of Development Economics. 2001 ; Bind 5, Nr. 2. s. 182-204.
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author = "Jensen, {Bjarne S.} and Martin Richter and Chunyan Wang and Alsholm, {Preben K.}",
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Saving rates, trade, technology, and stochastic dynamics. / Jensen, Bjarne S.; Richter, Martin; Wang, Chunyan; Alsholm, Preben K.

I: Review of Development Economics, Bind 5, Nr. 2, 2001, s. 182-204.

Publikation: Bidrag til tidsskriftReviewForskningpeer review

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