Learning-by-doing versus Schooling in a Model of Endogenous Growth
✍ Scribed by Matthias Göcke
- Publisher
- Springer Vienna
- Year
- 2004
- Tongue
- English
- Weight
- 369 KB
- Volume
- 83
- Category
- Article
- ISSN
- 1617-7134
No coin nor oath required. For personal study only.
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## Abstract We construct and estimate by maximum likelihood a job search model where wages are set by Nash bargaining and idiosyncratic productivity follows a geometric Brownian motion. The proposed framework enables us to endogenize job destruction and to estimate the rate of learning‐by‐doing. Al
This paper presents an endogenous growth model comprising of financial, human and physical capital and incorporating major features of a general tax system. Technology and preference parameter values in the model are chosen to fit the actual growth experiences of the United States and a rapidly grow