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Sequeira, T. N., Ferreira-Lopes, A. & Gomes, O. (2014). A growth model with qualities, varieties, and human capital: stability and transitional dynamics. Studies in Nonlinear Dynamics and Econometrics. 18 (5), 543-555
T. M. Sequeira et al., "A growth model with qualities, varieties, and human capital: stability and transitional dynamics", in Studies in Nonlinear Dynamics and Econometrics, vol. 18, no. 5, pp. 543-555, 2014
@article{sequeira2014_1724525504443, author = "Sequeira, T. N. and Ferreira-Lopes, A. and Gomes, O.", title = "A growth model with qualities, varieties, and human capital: stability and transitional dynamics", journal = "Studies in Nonlinear Dynamics and Econometrics", year = "2014", volume = "18", number = "5", doi = "10.1515/snde-2013-0018", pages = "543-555", url = "http://www.degruyter.com/view/j/snde" }
TY - JOUR TI - A growth model with qualities, varieties, and human capital: stability and transitional dynamics T2 - Studies in Nonlinear Dynamics and Econometrics VL - 18 IS - 5 AU - Sequeira, T. N. AU - Ferreira-Lopes, A. AU - Gomes, O. PY - 2014 SP - 543-555 SN - 1081-1826 DO - 10.1515/snde-2013-0018 UR - http://www.degruyter.com/view/j/snde AB - This article analyses the stability properties of the steady-state and the transitional dynamics of an endogenous growth model with human capital, increasing-varieties R&D, and quality-ladders R&D [Strulik, 2005, Review of International Economics, 13 (1): 129-145]. We show that when spillovers within R&D sectors are higher than spillovers across the two R&D sectors, the equilibrium is unstable. However, when spillovers between sectors are higher than within, the equilibrium is a saddle-path. This result emphasizes the need for empirical research that compares quantitatively the importance of these two types of spillovers and highlights the importance of studying intersectoral effects between the two R&D sectors. We describe plausible paths of economic development after changes in crucial parameters and uncover some transitional effects that were impossible to detect in the steady-state analysis. We also show that this model's transition dynamics can mimic the main features of the process of productivity slowdown that began in the 1970's. ER -