Abstract
Recent empirical evidence demonstrates that a higher level of technical progress is associated with a lower level of growth volatility and higher expected economic growth. This paper builds a simple growth model which combines the insights of Angeletos and Kollintzas (2000) and Tse (2000; 2001; 2002) with endogenous productivity growth and rent-seeking behavior to account for these stylized facts. Our model complements the literature that focuses on the heterogeneity of different agents.
| Original language | English |
|---|---|
| Pages (from-to) | 159-178 |
| Journal | Journal of Economics/ Zeitschrift fur Nationalokonomie |
| Volume | 88 |
| Issue number | 2 |
| DOIs | |
| Publication status | Published - Aug 2006 |
| Externally published | Yes |
UN SDGs
This output contributes to the following UN Sustainable Development Goals (SDGs)
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SDG 8 Decent Work and Economic Growth
Research Keywords
- Institution
- Rent-seeking
- Stabilization policy
- Technical progress
- Volatility of economic growth
Policy Impact
- Cited in Policy Documents
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