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.
| Originalsprog | Engelsk |
|---|---|
| Tidsskrift | Review of Development Economics |
| Vol/bind | 5 |
| Udgave nummer | 2 |
| Sider (fra-til) | 182-204 |
| ISSN | 1363-6669 |
| DOI | |
| Status | Udgivet - 2001 |
| Udgivet eksternt | Ja |
Fingeraftryk
Citer dette
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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 tidsskrift › Review › Forskning › peer review
TY - JOUR
T1 - Saving rates, trade, technology, and stochastic dynamics
AU - Jensen, Bjarne S.
AU - Richter, Martin
AU - Wang, Chunyan
AU - Alsholm, Preben K.
PY - 2001
Y1 - 2001
N2 - 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.
AB - 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.
U2 - 10.1111/1467-9361.00117
DO - 10.1111/1467-9361.00117
M3 - Review
VL - 5
SP - 182
EP - 204
JO - Review of Development Economics
JF - Review of Development Economics
SN - 1363-6669
IS - 2
ER -