Robust endogenous growth

Published

Journal Article

© 2018 Elsevier B.V. This paper studies a generalization of the Schumpeterian models with endogenous market structure that allows the overall production structure to be more than linear in the growth-driving factor and yet generates endogenous growth, defined as steady-state, constant, exponential growth of income per capita. This version of modern growth theory, therefore, is robust in the sense that its key result obtains for a thick set of parameter values instead of, as often claimed, for a set of measure zero. The paper, moreover, pays close attention to transitional dynamics, showing not only the existence but also the global stability of the endogenous-growth steady state.

Full Text

Duke Authors

Cited Authors

  • Peretto, PF

Published Date

  • September 1, 2018

Published In

Volume / Issue

  • 108 /

Start / End Page

  • 49 - 77

International Standard Serial Number (ISSN)

  • 0014-2921

Digital Object Identifier (DOI)

  • 10.1016/j.euroecorev.2018.06.007

Citation Source

  • Scopus