Alonso-Carrera, Jaime; Caballé, Jordi; Raurich, Xavier - Institut for Miljø og Erhvervsøkonomi, Syddansk … - 2009
We analyze the transitional dynamics of an endogenous growth model with heterogeneous consumption goods. In this model, convergence is driven by two different forces: the diminishing returns to capital and the growth of the relative price between physical and human capital. Because this second...