| Author: | Hek, P. de |
| Title: | On endogenous growth under uncertainty |
| Journal: | International Economic Review
1999 : AUG, VOL. 40:3, p. 727-744 |
| Index terms: | ECONOMICS GROWTH UNCERTAINTY |
| Language: | eng |
| Abstract: | This paper incorporates uncertainty in two distinct models of endogenous growth. In both models the representative agent is uncertain about the productivity of knowledge creation, as represented by a probability measure over the relevant parameter. The main purpose of the paper is to analyze the effects of risk or volatility in productivity of knowledge creation on the decision variables and the expected long-run growth rate. |
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