Search Results - subject:"Transitional dynamics"

Grossmann, Volker; Steger, Thomas M.; Trimborn, Timo - 2011

This paper shows that dynamic inefficiency can occur in dynamic general equilibrium models with fully optimizing, infinitely-lived households even in a situation with underinvestment. We identify necessary conditions for such a pos- sibility and illustrate it in a standard R\&D-based growth...

Persistent link: https://www.econbiz.de/10010294440

Dynamically optimal R&D subsidization

Grossmann, Volker; Steger, Thomas M.; Trimborn, Timo - 2011

Previous research on optimal R&D subsidies has focussed on the long run. This paper characterizes the optimal time path of R&D subsidization in a semi-endogenous growth model, by exploiting a recently developed numerical method. Starting from the steady state under current R&D subsidization in...

Persistent link: https://www.econbiz.de/10010305984

The macroeconomics of TANSTAAFL

Grossmann, Volker; Steger, Thomas M.; Trimborn, Timo - 2011

This paper shows that dynamic inefficiency can occur in dynamic general equilibrium models with fully optimizing, infinitely-lived households even in a situation with underinvestment. We identify necessary conditions for such a possibility and illustrate it in a standard R&D-based growth model....

Persistent link: https://www.econbiz.de/10010307599

The macroeconomics of TANSTAAFL

Grossmann, Volker; Steger, Thomas; Trimborn, Timo - 2011

This paper shows that dynamic inefficiency can occur in dynamic general equilibrium models with fully optimizing, infinitely-lived households even in a situation with underinvestment. We identify necessary conditions for such a possibility and illustrate it in a standard R&D-based growth model....

Persistent link: https://www.econbiz.de/10010279377

The Macroeconomics of TANSTAAFL

Grossmann, Volker; Steger, Thomas; Trimborn, Timo - CESifo - 2011

This paper shows that dynamic inefficiency can occur in dynamic general equilibrium models with fully optimizing, infinitely-lived households even in a situation with underinvestment. We identify necessary conditions for such a possibility and illustrate it in a standard R&D-based growth model....

Persistent link: https://www.econbiz.de/10009371354

Dynamically optimal R&D subsidization

Grossmann, Volker; Steger, Thomas M.; Trimborn, Timo - Wirtschaftswissenschafltiche Fakultät, Universität Leipzig - 2011

Persistent link: https://www.econbiz.de/10009277835

The Macroeconomics of TANSTAAFL

Grossmann, Volker; Steger, Thomas M.; Trimborn, Timo - Wirtschaftswissenschaftliche Fakultät, Leibniz … - 2011

Persistent link: https://www.econbiz.de/10009364632

The macroeconomics of TANSTAAFL

Grossmann, Volker; Steger, Thomas M.; Trimborn, Timo - Wirtschaftswissenschafltiche Fakultät, Universität Leipzig - 2011

This paper shows that dynamic inefficiency can occur in dynamic general equilibrium models with fully optimizing, infinitely-lived households even in a situation with underinvestment. We identify necessary conditions for such a possibility and illustrate it in a standard R&D-based growth model....

Persistent link: https://www.econbiz.de/10009385877

Sectoral composition and macroeconomic dynamics

Alonso-Carrera, Jaime; Caballé, Jordi; Raurich, Xavier - Departament d'Economia i Història Econòmica, … - 2011

We analyze the transitional dynamics of a model with heterogeneous consumption goods. In this model, convergence is …- mentioned dynamic sectoral change arises only under heterogeneous consumption goods, the transitional dynamics of this model … transitional dynamics can give raise to large discrepancies in the welfare cost of shocks between the economy with a unique …

Persistent link: https://www.econbiz.de/10008922979

Learning by Investing, Embodiment, and Speed of Convergence

Groth, Christian; Wendner, Ronald - Economic Policy Research Unit (EPRU), Økonomisk Institut - 2011

This paper sets up a dynamic general equilibrium model to study how the composition of technical progress affects the asymptotic speed of convergence. The following questions are addressed: Will endogenizing a fraction of the productivity increases as coming from learning by investing help to...

Persistent link: https://www.econbiz.de/10008854230