without it. We show that wage inertia affects the long run employment rate and that the transitional dynamics of the main …

the AK model on the side of technology. Unlike the basic AK model, these extensions exhibit transitional dynamics. We … asymptotic steady state (there is convergence). In order to show the possible importance of transitional dynamics in real … derive steady-state equilibria of these AK-type models and shed light on some qualitative characteristics of the transitional …

discounting framework is used to approach a standard optimal growth model in discrete time. Transitional dynamics and stability …

We study transitional dynamics and speed of convergence in economic growth. Based on a canonical framework the analysis …