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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Includes bibliographical references.
Title from PDF file as viewed on 2/25/2005.
Also available in print.
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Mode of access: World Wide Web.
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| December 13, 2020 | Edited by MARC Bot | import existing book |
| December 10, 2009 | Created by WorkBot | add works page |