Growth, volatility and learning

Keith Blackburn; Ragchaasuren Galindev

doi:10.1016/S0165-1765(03)00025-9

Growth, volatility and learning

Keith Blackburn, Ragchaasuren Galindev

Economics

Research output: Contribution to journal › Article › peer-review

Abstract

This paper presents a simple stochastic growth model in which productivity improvements are the result of both internal (deliberate) and external (serendipitous) learning behaviour. The model is used to illustrate how these different mechanisms of endogenous technological change can lead to different implications for the correlation between output growth and output variability. © 2003 Elsevier Science B.V. All rights reserved.

Original language	English
Pages (from-to)	417-421
Number of pages	4
Journal	Economics Letters
Volume	79
Issue number	3
DOIs	https://doi.org/10.1016/S0165-1765(03)00025-9
Publication status	Published - 1 Jun 2003

Keywords

Business cycles
Growth
Learning
Volatility

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

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10.1016/S0165-1765(03)00025-9

Cite this

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AU - Galindev, Ragchaasuren

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AB - This paper presents a simple stochastic growth model in which productivity improvements are the result of both internal (deliberate) and external (serendipitous) learning behaviour. The model is used to illustrate how these different mechanisms of endogenous technological change can lead to different implications for the correlation between output growth and output variability. © 2003 Elsevier Science B.V. All rights reserved.

KW - Business cycles

KW - Growth

KW - Learning

KW - Volatility

UR - https://www.scopus.com/pages/publications/0037410373

U2 - 10.1016/S0165-1765(03)00025-9

DO - 10.1016/S0165-1765(03)00025-9

M3 - Article

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VL - 79

SP - 417

EP - 421

JO - Economics Letters

JF - Economics Letters

IS - 3

ER -

Growth, volatility and learning

Abstract

Keywords

UN SDGs

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