Growth Models with Multiple Steady States
Part of the Advances in Japanese Business and Economics book series (AJBE, volume 13)
This chapter examines growth models in which there are multiple steady states. This class of models can explain why two countries with similar initial conditions sometimes display very different patterns of growth and development.
- Greiner, A., & Semmler, W. (1996). Saddle path stability, fluctuations, and indeterminacy in economic growth. Studies in Nonlinear Dynamics and Econometrics, 1, 1–16.Google Scholar
- Lucas, R. E. (1993). Making a miracle. Econometrica, 42, 293–316.Google Scholar
- Mino, K. (2008). Preference structure and volatility in a financially integrated world. In T. Kamihigashi & L. Zhao (Eds.), International trade and economic dynamics: Essays in memory of Koji Shimomura (323–). Berlin/Hiderberg: Springer.Google Scholar
© Springer Japan KK 2017