A note on the empirics of the neoclassical growth model

Giovanni Caggiano, Leone Leonida

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Abstract

This paper shows that the widely used log-linearization of the neoclassical model of growth implies a relevant loss in terms of the ability of the model in replicating the patterns of convergence of an economy to its equilibrium level.

Original languageEnglish
Pages (from-to)170-176
Number of pages7
JournalEconomics Letters
Volume94
Issue number2
DOIs
Publication statusPublished - Feb 2007

Keywords

  • AutoCorrelation Function
  • Convergence processes
  • Neoclassical growth model

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