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dc.creatorPapageorgiou, Chrises_ES
dc.creatorPérez Sebastián, Fideles_ES
dc.description.abstractThis paper studies the steady-state and transitional dynamics predictions of an R&D-based growth model and evaluates their performance in explaining income disparities across countries. We fnd that even though steady-state conditions do slightly better at predicting schooling enrollment and investment rates, transitional dynamics predictions better fit the cross-country output per worker data. These results suggest that the traditional view of a world in which nations move along their distinct balanced-growth paths is as likely as the one in which countries move along adjustment paths toward a common (very long-run) steady state. In addition, the model provides a reduced form empirical specification that incorporates capital input and R&D-effort measures. Therefore, we can compare the performance of the standard neoclassical growth model to that of an R&D-based growth model with human capital and imperfect competition, like ours. This stands in contrast to the prevalent view that reduced form regressions cannot discriminate between neoclassical and R&D-based growth frameworks.en
dc.format.extent34 p.
dc.relation.ispartofseriesDocumentos de Trabajo DE - ES Lan Gaiakes
dc.rightsCC Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0)en
dc.titleGrowth with technical change and human capital: transition dynamics versus steady state predictionsen
dc.typeDocumento de trabajo / Lan gaiakes
dc.rights.accessRightsAcceso abierto / Sarbide irekiaes

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CC Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0)
Except where otherwise noted, this item's license is described as CC Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0)

El Repositorio ha recibido la ayuda de la Fundación Española para la Ciencia y la Tecnología para la realización de actividades en el ámbito del fomento de la investigación científica de excelencia, en la Línea 2. Repositorios institucionales (convocatoria 2020-2021).
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