Productivity Distribution and Economic Growth

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This paper develops a tractable model of economic growth in which heterogeneous households produce capital a la Romer (1986). The paper demonstrates that depending on its varying degrees of persistence, productivity heterogeneity dictates economic growth. A regression analysis based upon a reduced-form version of the model shows that the persistence of human capital is the driving force behind the positive effects of productivity dispersion on economic growth
Publisher
KOREAN ECONOMIC ASSOCIATION
Issue Date
2016
Language
English
Article Type
Article
Keywords

LONG-RUN GROWTH; INCOME-DISTRIBUTION; ENDOGENOUS GROWTH; INCREASING RISK; MODEL; WEALTH; INSTABILITY; EQUILIBRIA; INEQUALITY; RETURNS

Citation

KOREAN ECONOMIC REVIEW, v.32, no.1, pp.23 - 40

ISSN
0254-3737
URI
http://hdl.handle.net/10203/212417
Appears in Collection
STP-Journal Papers(저널논문)MT-Journal Papers(저널논문)
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