Scientific journal paper Q2
On the welfare properties of the Lucas and Romer endogenous growth models
Tiago Miguel Neves Guterres Sequeira (Sequeira, T. N.); Alexandra Ferreira-Lopes (Ferreira-Lopes, A.);
Journal Title
Economics Bulletin
Year (definitive publication)
2010
Language
English
Country
United States of America
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Abstract
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.
Acknowledgements
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Keywords
Endogenous Growth,Human Capital,R&D,Welfare
Fields of Science and Technology Classification
  • Economics and Business - Social Sciences
Publication Identifiers
ci-pub-6163
2-s2.0-77956277352
WOS:000219239600043
2-s2.0-77956277352
http://hdl.handle.net/10071/8048
Other Publication Details
2010
Economics Bulletin
Web of Science©; Scopus;
1545-2921 (print)
1545-2921 (online)
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