Patent Policy in an Endogenous Growth Model
β Scribed by Tatsuro Iwaisako; Koichi Futagami
- Publisher
- Springer Vienna
- Year
- 2003
- Tongue
- English
- Weight
- 348 KB
- Volume
- 78
- Category
- Article
- ISSN
- 1617-7134
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π SIMILAR VOLUMES
This paper analyzes a class of stochastic endogenous growth models with uninsurable idiosyncratic income risk. The model economy is populated by inΓΏnitely-lived households who own and operate their own business, work for a stock company, and participate in stock and bond markets. Households have log
## Abstract The local stability of balanced paths in endogenous growth models is investigated. Under the fulfillment of transversality conditions, a general instability result is established. It has been proved that models with one state variable are completely unstable, whereas two alternatives ar