Mino, Kazuo (1998): Equilibrium Determinacy of a Two-Sector AK Model.
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This paper explores a two-sector model of endogenous growth with AK technologies and production externalities. Unlike the standard one-sector AK model, the two-sector model may involve the relative price dynamics, so that there may exist transitional processes. It is shown that under certain conditions for the relative magnitudes of factor intensities, the balanced growth equilibrium exhibits local indeterminacy.
|Item Type:||MPRA Paper|
|Original Title:||Equilibrium Determinacy of a Two-Sector AK Model|
|Keywords:||Two-Sector AK model; endogenous growth, equilibrium determinacy|
|Subjects:||O - Economic Development, Innovation, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity > O41 - One, Two, and Multisector Growth Models|
|Depositing User:||Kazuo Mino|
|Date Deposited:||16. Sep 2009 19:09|
|Last Modified:||18. Feb 2013 19:34|
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