Uniqueness and determinacy of the Romer model

In this paper we prove the existence, uniqueness and saddle-point stability of the steady state (or balanced growth path) of the Romer (1990) model by utilizing the reduction of dimensionality. Furthermore, we found out a set of policy instruments to improve the monopolistic competitive equilibrium allocation up to social optimum.

MoreLess

Year of publication:	2019-09-22
Authors:	Tang, Rongsheng ; Wang, Gaowang ; Wang, Jin

More details

Type of publication:	Book / Working Paper
Language:	English
Notes:	Tang, Rongsheng and Wang, Gaowang and Wang, Jin (2019): Uniqueness and determinacy of the Romer model.
Classification:	C62 - Existence and Stability Conditions of Equilibrium ; O3 - Technological Change; Research and Development ; O41 - One, Two, and Multisector Growth Models
Source:	BASE

Persistent link: https://www.econbiz.de/10015265251