scholarly journals A liquidity crunch in an endogenous growth model with human capital

2021 ◽  
Author(s):  
Sergio Salas
Author(s):  
А.В. Королев

В статье рассматривается модель эндогенного роста с человеческим капи-талом на простой пространственной структуре (окружности). Особое вни-мание уделено специальному случаю - комбинации параметров, при кото-рой удаётся получить решение задачи центрального планировщика на окружности в явном виде, что другим авторам не удавалось. In this article the endogenous growth model with human capital on the simple spatial structure (the circle) is considered. We pay main attention to a special case of a combination of parameters for which we were able to solve the central plan-ner problem on the circle in an explicit form, which other authors did not suc-ceed to do.


2015 ◽  
Vol 53 (3) ◽  
pp. 167-204 ◽  
Author(s):  
Vahagn Jerbashian ◽  
Sergey Slobodyan ◽  
Evangelia Vourvachaki

2002 ◽  
Vol 24 (2) ◽  
pp. 171-192 ◽  
Author(s):  
José Marı́a Ramos Parreño ◽  
Fernando Sánchez-Losada

2013 ◽  
Vol 14 (1) ◽  
pp. 77-97 ◽  
Author(s):  
Tiago Neves Sequeira ◽  
Alexandra Ferreira-Lopes

We introduce social capital in an endogenous growth model with physical capital, human capital, and research and development (R&D), and we compare the market with the efficient solutions. As social capital is not tradable in the market and since it favours research networks, it introduces new externalities in this framework. These externalities induce the market to invest less in social capital than would a social planner and decrease the tendency to underinvestment in R&D. We quantify the distortions in the model. In some conditions, the new distortions are strong enough to overcome the usual result of underinvestment in R&D.


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