Galindev, Ragchaasuren (2007): Uncertainty, learning and growth.
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The paper extends Blackburn and Galindev (2003)' s stochastic growth model in which productivity growth entails both external and internal learning behaviour with a Constant Relative Risk Aversion utility function and productivity shocks. Consequently, the relationship between long-term growth and short-term volatility depends not only on the relative importance of each learning mechanism but also on a parameter measuring individuals' attitude towards risk.
|Item Type:||MPRA Paper|
|Original Title:||Uncertainty, learning and growth|
|Keywords:||Growth; Uncertainty, Learning|
|Subjects:||E - Macroeconomics and Monetary Economics > E3 - Prices, Business Fluctuations, and Cycles > E32 - Business Fluctuations ; Cycles
O - Economic Development, Innovation, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity > O40 - General
|Depositing User:||Galindev Ragchaasuren|
|Date Deposited:||01. Mar 2008 06:32|
|Last Modified:||14. Feb 2013 11:38|
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