dc.contributor.author | Restrepo Ochoa, Sergio I. | |
dc.contributor.author | Vázquez Pérez, Jesús | |
dc.date.accessioned | 2012-02-08T20:08:11Z | |
dc.date.available | 2012-02-08T20:08:11Z | |
dc.date.issued | 2002-07 | |
dc.identifier.issn | 1988-088X | |
dc.identifier.uri | http://hdl.handle.net/10810/6807 | |
dc.description.abstract | This paper analyzes the trend processes characterized by two standard growth models using simple econometrics. The first model is the basic neoclassical growth model that postulates a deterministic trend for output. The second model is the Uzawa-Lucas model that postulates a stochastic trend for output. The aim is to understand how the different trend processes for output assumed by these two standard growth models determine the ability of each model to explain the observed trend processes of other macroeconomic variables such as consumption and investment. The results show that the two models reproduce the output trend process. Moreover, the results show that the basic growth model captures properly the consumption trend process, but fails in characterizing the investment trend process. The reverse is true for the Uzawa-Lucas model. | es |
dc.description.sponsorship | Financial support from Ministerio de Ciencia y Tecnología, Gobierno Vasco and Universidad del País Vasco (Spain) through projects BEC2000-1393, PI-1999-131 and 9/UPV00035.321-13511/2001, respectively, is gratefully acknowledged. | es |
dc.language.iso | eng | es |
dc.publisher | University of the Basque Country, Department of Foundations of Economic Analysis II | es |
dc.relation | info:eu-repo/grantAgreement/MCYT/BEC2000-1393 | |
dc.relation | info:eu-repo/grantAgreement/MCYT/PI-1999-131 | |
dc.relation.ispartofseries | DFAEII 2002.31 | |
dc.rights | info:eu-repo/semantics/openAccess | es |
dc.rights.uri | http://creativecommons.org/licenses/by-nc-sa/3.0/ | * |
dc.subject | basic neoclassical growth model | es |
dc.subject | Uzawa-Lucas model | es |
dc.subject | trend process | es |
dc.subject | cointegration | es |
dc.title | Trend analysis in two standard growth models | es |
dc.type | info:eu-repo/semantics/workingPaper | es |
dc.rights.holder | Attribution-NonCommercial-ShareAlike 3.0 Unported | * |
dc.identifier.repec | RePEc:ehu:dfaeii:200231 | es |
dc.departamentoes | Fundamentos del análisis económico II | es_ES |
dc.departamentoeu | Ekonomia analisiaren oinarriak II | es_ES |
dc.subject.categoria | ECONOMICS, ECONOMETRICS AND FINANCE | |