On the solution of the growth model with investment-specific technological change
by Jesús Fernández-Villaverde
"Recent work by Greenwood, Hercowitz, and Krusell (1997 and 2000) and Fisher (2003) has emphasized the importance of investment-specific technological change as a main driving force behind long-run growth and the business cycle. This paper shows how the growth model with investment-specific technological change has a closed-form solution if capital fully depreciates. This solution furthers our understanding of the model, and it constitutes a useful benchmark to check the accuracy of numerical procedures to solve dynamic macroeconomic models in cases with several state variables"--Federal Reserve Bank of Atlanta web site.
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On the solution of the growth model with investment-specific technological change
2004, Federal Reserve Bank of Atlanta
Electronic resource
in English
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Edition Notes
Includes bibliographical references.
Title from PDF file as viewed on 2/25/2005.
Also available in print.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.
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- Created April 1, 2008
- 5 revisions
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| July 29, 2012 | Edited by VacuumBot | Updated format '[electronic resource] /' to 'Electronic resource' |
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