Arbeitspapier

Growth Regression and Economic Theory

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.

Language
Englisch

Bibliographic citation
Series: Tinbergen Institute Discussion Paper ; No. 02-034/2

Classification
Wirtschaft
Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making‡
Subject
economic growth
growth regressions
growth under uncertainty
Wachstumstheorie
Regression
Wissenschaftliche Methode
Theorie

Event
Geistige Schöpfung
(who)
Elbers, Chris
Gunning, Jan Willem
Event
Veröffentlichung
(who)
Tinbergen Institute
(where)
Amsterdam and Rotterdam
(when)
2002

Handle
Last update
10.03.2025, 11:43 AM CET

Data provider

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Object type

  • Arbeitspapier

Associated

  • Elbers, Chris
  • Gunning, Jan Willem
  • Tinbergen Institute

Time of origin

  • 2002

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