The Study on Endogenous Growth Model

Autor: Peng, Yu-Shu, 彭玉樹
Druh dokumentu: 學位論文 ; thesis
Popis: 83
In this paper, we develop a "more" (compared with Bond et al. (1994)) general two-sector endogenous growth model with constant-return-to-scale production tech- nologies governing the evolution of physical and human capital. By utilizing the properties of traditional static 2x2 inter- national trade model and combining an intertemporal no-arbitrage condition which links the capital gain on human capital to the difference between the rentals on capital and wage rate, we prove that the balanced growth equilibrium is saddle-path stable in three cases (i) 0
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