Template-Type: ReDIF-Paper 1.0
Series: Tinbergen Institute Discussion Papers
Creation-Date: 2002-04-10
Number: 02-034/2
Author-Name: Chris Elbers
Author-Email: celbers@feweb.vu.nl
Author-Name: Jan Willem Gunning
Author-Email: jgunning@feweb.vu.nl
Author-Workplace-Name: Faculty of Economics and Business Administration, Vrije Universiteit Amsterdam
Title: Growth Regression and Economic Theory
Abstract: In this note we show that the standard, loglinear growth regression specificationis consistent with one and only one model in the class of stochastic Ramsey models. Thismodel is highly restrictive: it requires a Cobb-Douglas technology and a 100% depreciationrate and it implies that risk does not affect investment behavior.
Classification-JEL: O4; D91
Keywords: economic growth; growth regressions; growth under uncertainty
File-Url: https://papers.tinbergen.nl/02034.pdf
File-Format: application/pdf
File-Size: 218371 bytes
Handle: RePEc:tin:wpaper:20020034