An important question is whether underdeveloped countries will converge to the per-capita income level of developed countries. Economists have used the disequilibrium adjustment property of growth models to justify the view that convergence should occur. Unfortunately, the empirical literature...

Standard international real business cycle models are generally unable to replicate the observed comovements of all the main aggregate variables: in particular, they generate low or negative international comovements in output, investment, and labour. I simulated a two-country, two-sector...

The paper discusses conditions to identify a stochastic Ramsey growth model from loglinear growth regressions.

Standard international real business cycle models are generally unable to replicate the observed comovements of all the main aggregate variables: in particular, they generate low or negative international comovements in output, investment, and labour. I simulated a two-country, two-sector...

A restricted solid-on-solid model where surface relaxation occurs by atom desorption and by surface diffusion is introduced and studied in 1+1 dimensions. The interface profile is mapped onto a four-vertex model and the kinetic equation describing the moving surface is solved exactly for small...