Transitional dynamics of the search mode
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Fabien Postel-Vinay
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Article
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1998
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Elsevier Science
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English
โ 261 KB
This paper studies the steady state and dynamics of the standard matching model, allowing for endogenous capital accumulation and endogenous growth. The existence and uniqueness of a balanced growth path is shown, along which the relationship between unemployment and growth may not be considered cle