Auray, Stéphane; Eyquem, Aurélien; Jouneau-Sion, … - Département d'économique, Faculté d'administration - 2009
This paper proposes a structural approach to growth modeling relying on random return scale. An RBC-like model in which return to scale may be strictly increasing or decreasing depending on shocks is explicitly derived. We show that relevant component of usual macroeconomic models (including...