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Sequeira, T. N. & Ferreira-Lopes, A. (2010). On the welfare properties of the Lucas and Romer endogenous growth models. Economics Bulletin. 30 (3), 1-7
T. M. Sequeira and A. M. Lopes, "On the welfare properties of the Lucas and Romer endogenous growth models", in Economics Bulletin, vol. 30, no. 3, pp. 1-7, 2010
@article{sequeira2010_1765601348276,
author = "Sequeira, T. N. and Ferreira-Lopes, A.",
title = "On the welfare properties of the Lucas and Romer endogenous growth models",
journal = "Economics Bulletin",
year = "2010",
volume = "30",
number = "3",
pages = "1-7",
url = "http://www.accessecon.com/Pubs/EB/2010/Volume30/EB-10-V30-I3-P198.pdf"
}
TY - JOUR TI - On the welfare properties of the Lucas and Romer endogenous growth models T2 - Economics Bulletin VL - 30 IS - 3 AU - Sequeira, T. N. AU - Ferreira-Lopes, A. PY - 2010 SP - 1-7 SN - 1545-2921 UR - http://www.accessecon.com/Pubs/EB/2010/Volume30/EB-10-V30-I3-P198.pdf AB - We present results from quantitative exercises using the Lucas and Romer endogenous growth models, from which we calculate welfare losses from the distortions presented in the Romer model. Moreover, comparing the models to data, we show that an economy governed by the Romer model would attain a higher welfare than one governed by the Lucas model, contrary to what can be interpreted from some previous theoretical contributions. ER -
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