The Library
Nonlinear dynamics, spillovers and growth in the G7 economies: an empirical investigation
Tools
Sarno, Lucio (2000) Nonlinear dynamics, spillovers and growth in the G7 economies: an empirical investigation. Discussion Paper. London: Centre for Economic Policy Research (Great Britain). Discussion paper (Centre for Economic Policy Research (Great Britain)) (No.253).
|
PDF
WRAP_Sarno_CEPR-DP2537[1].pdf - Requires a PDF viewer. Download (532Kb) |
Official URL: http://www.cepr.org/pubs/new-dps/dplist.asp?dpno=2...
Abstract
This paper proposes an empirical growth model which is consistent with a stochastic steady-state labour productivity level varying over time and across countries, where the disequilibrium mechanism leading to long-run equilibrium follows a nonlinear equilibrium correction model. Using data for the G7 economies during the postwar period since 1950, the empirical analysis yields a long-run model which implies plausible estimates of the production function parameters. Postwar economic growth in each of the G7 countries appears to be well characterized by a nonlinear equilibrium correction model where the dynamic adjustment towards long-run equilibrium is governed by a logistic function, while also capturing spillover effects in growth dynamics.
Item Type: | Working or Discussion Paper (Discussion Paper) | ||||
---|---|---|---|---|---|
Subjects: | H Social Sciences > HB Economic Theory | ||||
Divisions: | Faculty of Social Sciences > Warwick Business School | ||||
Library of Congress Subject Headings (LCSH): | Economic development -- Group of Seven countries, Nonlinear theories, Equilibrium (Economics), Group of Seven countries -- Economic conditions | ||||
Series Name: | Discussion paper (Centre for Economic Policy Research (Great Britain)) | ||||
Publisher: | Centre for Economic Policy Research (Great Britain) | ||||
Place of Publication: | London | ||||
Official Date: | August 2000 | ||||
Dates: |
|
||||
Number: | No.253 | ||||
Number of Pages: | 36 | ||||
Status: | Not Peer Reviewed | ||||
Access rights to Published version: | Open Access (Creative Commons) |
Request changes or add full text files to a record
Repository staff actions (login required)
View Item |
Downloads
Downloads per month over past year