Research output: Contribution to Journal/Magazine › Journal article › peer-review
Research output: Contribution to Journal/Magazine › Journal article › peer-review
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TY - JOUR
T1 - Prometheus bound
T2 - polarization is possible in the neoclassical growth model
AU - Tsionas, Michael
AU - Theocharis, Loukas
PY - 2008/5
Y1 - 2008/5
N2 - The paper demonstrates that the standard neoclassical model of stochastic growth in the absence of any other modifications is consistent with club convergence contrary to the analysis in Cetorelli (2002, Journal of Economic Dynamics and Control, 27, pp. 29–50). In that sense, it is not necessary to augment the model with a probability of adverse shocks that is inversely related to aggregate capital stock or provide other modifications.
AB - The paper demonstrates that the standard neoclassical model of stochastic growth in the absence of any other modifications is consistent with club convergence contrary to the analysis in Cetorelli (2002, Journal of Economic Dynamics and Control, 27, pp. 29–50). In that sense, it is not necessary to augment the model with a probability of adverse shocks that is inversely related to aggregate capital stock or provide other modifications.
U2 - 10.1111/j.1467-999X.2008.00300.x
DO - 10.1111/j.1467-999X.2008.00300.x
M3 - Journal article
VL - 59
SP - 203
EP - 211
JO - Metroeconomica
JF - Metroeconomica
SN - 0026-1386
IS - 2
ER -