Rich nations, poor nations: how much can multiple equilibria explain?

被引:67
作者
Graham, BS
Temple, JRW
机构
[1] Univ Calif Berkeley, Dept Econ, Berkeley, CA 94720 USA
[2] Univ Bristol, Dept Econ, Bristol BS8 1TN, Avon, England
基金
美国国家科学基金会;
关键词
poverty traps; multiple equilibria; TFP differences; calibration;
D O I
10.1007/s10887-006-7404-5
中图分类号
F [经济];
学科分类号
02 [经济学];
摘要
This paper asks whether the income gap between rich and poor nations can be explained by multiple equilibria. We explore the quantitative implications of a simple two-sector general equilibrium model that gives rise to multiplicity, and calibrate the model for 127 countries. Under the assumptions of the model, around a quarter of the world's economies are found to be in a low output equilibrium. We also find that, since the output gains associated with an equilibrium switch are sizeable, the model can explain between 15 and 25% of the variation in the logarithm of GDP per worker across countries.
引用
收藏
页码:5 / 41
页数:37
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