Local and global indeterminacy in two-sector models of endogenous growth

Detalhes bibliográficos
Autor(a) principal: Brito, Paulo
Data de Publicação: 2010
Outros Autores: Venditti, Alain
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10400.5/30415
Resumo: We consider a two-sector endogenous growth model where the productions of the final good and human capital require economy-wide external effects. Assuming constant returns to scale at the private and social levels, we show that local and global indeterminacy of equilibrium paths are compatible with any values for the elasticity of intertemporal substitution in consumption and any sign for the capital intensity difference across the two sectors. We also show that for any value of the elasticity of intertemporal substitution in consumption, poverty traps may occur when the final good sector is capital intensive in human capital.
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spelling Local and global indeterminacy in two-sector models of endogenous growthTwo-Sector ModelEndogenous GrowthEconomy-Wide ExternalitiesLocal and Global IndeterminacyPoverty TrapsWe consider a two-sector endogenous growth model where the productions of the final good and human capital require economy-wide external effects. Assuming constant returns to scale at the private and social levels, we show that local and global indeterminacy of equilibrium paths are compatible with any values for the elasticity of intertemporal substitution in consumption and any sign for the capital intensity difference across the two sectors. We also show that for any value of the elasticity of intertemporal substitution in consumption, poverty traps may occur when the final good sector is capital intensive in human capital.ElsevierRepositório da Universidade de LisboaBrito, PauloVenditti, Alain2024-03-15T10:39:05Z20102010-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.5/30415engBrito, Paulo and Alain Venditti .(2010). “Local and global indeterminacy in two-sector models of endogenous growth”, Journal of Mathematical Economics, Volume 46, Issue 5: pp. 893-911. (Search PDF in 2014).0304-4068doi:10.1016/j.jmateco.2010.08.003info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-03-17T01:35:01Zoai:www.repository.utl.pt:10400.5/30415Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T04:01:50.486057Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Local and global indeterminacy in two-sector models of endogenous growth
title Local and global indeterminacy in two-sector models of endogenous growth
spellingShingle Local and global indeterminacy in two-sector models of endogenous growth
Brito, Paulo
Two-Sector Model
Endogenous Growth
Economy-Wide Externalities
Local and Global Indeterminacy
Poverty Traps
title_short Local and global indeterminacy in two-sector models of endogenous growth
title_full Local and global indeterminacy in two-sector models of endogenous growth
title_fullStr Local and global indeterminacy in two-sector models of endogenous growth
title_full_unstemmed Local and global indeterminacy in two-sector models of endogenous growth
title_sort Local and global indeterminacy in two-sector models of endogenous growth
author Brito, Paulo
author_facet Brito, Paulo
Venditti, Alain
author_role author
author2 Venditti, Alain
author2_role author
dc.contributor.none.fl_str_mv Repositório da Universidade de Lisboa
dc.contributor.author.fl_str_mv Brito, Paulo
Venditti, Alain
dc.subject.por.fl_str_mv Two-Sector Model
Endogenous Growth
Economy-Wide Externalities
Local and Global Indeterminacy
Poverty Traps
topic Two-Sector Model
Endogenous Growth
Economy-Wide Externalities
Local and Global Indeterminacy
Poverty Traps
description We consider a two-sector endogenous growth model where the productions of the final good and human capital require economy-wide external effects. Assuming constant returns to scale at the private and social levels, we show that local and global indeterminacy of equilibrium paths are compatible with any values for the elasticity of intertemporal substitution in consumption and any sign for the capital intensity difference across the two sectors. We also show that for any value of the elasticity of intertemporal substitution in consumption, poverty traps may occur when the final good sector is capital intensive in human capital.
publishDate 2010
dc.date.none.fl_str_mv 2010
2010-01-01T00:00:00Z
2024-03-15T10:39:05Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10400.5/30415
url http://hdl.handle.net/10400.5/30415
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv Brito, Paulo and Alain Venditti .(2010). “Local and global indeterminacy in two-sector models of endogenous growth”, Journal of Mathematical Economics, Volume 46, Issue 5: pp. 893-911. (Search PDF in 2014).
0304-4068
doi:10.1016/j.jmateco.2010.08.003
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Elsevier
publisher.none.fl_str_mv Elsevier
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
institution RCAAP
reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
repository.mail.fl_str_mv
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