search query: @author Kocherlakota, N. / total: 3
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| Author: | Kocherlakota, N. Yi, K. |
| Title: | Is there endogenous long-run growth? Evidence from the United States and the United Kingdom |
| Journal: | Journal of Money, Credit and Banking
1997 : MAY, VOL. 29:2, p. 235-262 |
| Index terms: | GROWTH USA UNITED KINGDOM |
| Language: | eng |
| Abstract: | The key feature of endogenous growth models is that they imply that permanent changes in government policy can have permanent effects on growth rates. In this paper, the authors develop and implement an empirical framework to test this implication. In a regression of growth rates on current and lagged policy variables, the sum of the slope coefficients for each policy variable should be nonzero (zero) fro endogenous (exogenous) growth models. The authors use time series data spanning up to 100 years for the United States and 160 years for the United Kingdom. |
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