The Segerstrom Model: Stability, Speed of Convergence and Policy Implications
The Segerstrom Model: Stability, Speed of Convergence and Policy Implications
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Segerstrom 模型：稳定性、收敛速度和政策影响
作者：
Thomas Steger
这篇短文为著名的Segerstrom（1998）内生增长模型提供了一个简单的分析稳定性证明。此外，校准版本的模型来评估收敛速度。结果表明，过渡动态是重要的，因此，非规模内生增长模型的政策无效性命题必须加以限定。
This short paper presents a simple analytical stability proof for the well-known Segerstrom (1998) model of endogenous growth. Moreover, a calibrated version of the model is employed to assess the speed of convergence. The result shows that transitional dynamics are important and, hence, the policy ineffectiveness proposition of non-scale endogenous growth models must be qualified.