کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5054908 1476536 2013 11 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
An empirical test of exogenous versus endogenous growth models for the G-7 countries
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
An empirical test of exogenous versus endogenous growth models for the G-7 countries
چکیده انگلیسی

One of the key differences between exogenous and endogenous growth models is that a transitory shock to investment share exhibits different long-run effects on per-capita output. Exploring this difference, the present paper evaluates the empirical relevance of the two growth models for the G-7 countries. The underlying shocks are identified by an application of a dynamic factor model. Results show that a transitory shock to investment share permanently increases per-capita output in four countries, offering support to the endogenous growth model. This shock also contributes considerably to accounting for the long-run variability of per-capita output. Overall, the endogenous model is found to be empirically more plausible than previous time series studies suggest.

► We test the relevancy of exogenous and endogenous growth models for the G7 countries. ► The underlying shocks are identified by applying a dynamic factor model. ► The endogenous model is found to be more plausible than previous studies suggest.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Economic Modelling - Volume 32, May 2013, Pages 262-272
نویسندگان
, ,