Productivity Distribution and Economic Growth

Productivity Distribution and Economic Growth

This paper develops a tractable model of economic growth in which heterogeneous households produce capital a la Romer (1986). The paper demonstrates that depending on its varying degrees of persistence, productivity heterogeneity dictates economic growth. A regression analysis based upon a reduced-f...

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Veröffentlicht in:Korean Economic Review 2016-06, Vol.32 (1), p.23
Hauptverfasser: Jang Ok Cho, Hyo Youn Chu, Hyung Seok E. Kim, Jaywon Lee
Format: Artikel
Sprache:kor
Schlagworte:
Economic Growth
Human Capital
Incomplete Markets
Productivity Distribution
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Zusammenfassung:This paper develops a tractable model of economic growth in which heterogeneous households produce capital a la Romer (1986). The paper demonstrates that depending on its varying degrees of persistence, productivity heterogeneity dictates economic growth. A regression analysis based upon a reduced-form version of the model shows that the persistence of human capital is the driving force behind the positive effects of productivity dispersion on economic growth.
ISSN:0254-3737