Artículo
Strategic equilibria in a model of economic growth with input interdependence
Fecha de publicación:
10/2012
Editorial:
John Wiley & Sons Ltd
Revista:
Bulletin of Economic Research
ISSN:
1467-8586
Idioma:
Inglés
Tipo de recurso:
Artículo publicado
Clasificación temática:
Resumen
Two countries face a strategic interdependence in producing intermediate goods. Producing these intermediate goods requires both domestic capital and another imported intermediate good. Individually, both economies determine a balanced growth path by taking into account this interdependence in different grades of awareness. By allowing for strategic interactions in the analysis, we adapted a two-agent dynamic setting and find an interior Markov perfect equilibrium as well as an open-loop equilibrium reflecting these different degrees of reaction. We find that main results resemble each other but growth rates will be higher when strategies are dynamically updated.
Palabras clave:
DIFFERENCE GAME
,
ECONOMIC GROWTH
,
INTERMEDIATE GOODS
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Articulos(IIESS)
Articulos de INST. DE INVESTIGACIONES ECONOMICAS Y SOCIALES DEL SUR
Articulos de INST. DE INVESTIGACIONES ECONOMICAS Y SOCIALES DEL SUR
Citación
Larrosa, Juan Manuel Ceferino; Strategic equilibria in a model of economic growth with input interdependence; John Wiley & Sons Ltd; Bulletin of Economic Research; 64; 4; 10-2012; 537-548
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