There is by now reasonable evidence that supports the notion of a trend break in US GDP since Great Recession. To explain this phenomenon, I construct version Lucas endogenous growth model, amplified with financial frictions and disruptions firms' sector. then show how transitory liquidity crunch capable, at least qualitatively, producing similar pattern persistent downward shift as one could i...

Within an endogenous growth framework, we examine dynamic gains from trade for parametrically distinct countries. In the absence of international spillovers or factor mobility, previous endogenous growth models generally imply that trade in goods must amplify differences in (1) factor endowments, (2) rates of technical change and (3) economic growth. Even the dynamic HOS model suggests that tra...

in this study, the impact of internal r&d; expenditure, technology imports and interaction effects between human capital and technology imports on value added of iranian large industries are investigated over the period of 1994-2008. for this purpose, an endogenous growth model is used in which production is a function of labor, capital stock, human capital, internal r&d; expenditure, technolog...

This paper simulates the impact of a permanent fertility shock on economic growth, using endogenous versus exogenous growth OLG models. An endogenous growth model, with education as the engine of growth, dampens the negative impact of a decline in fertility on growth when compared with an exogenous growth model. This result stems from the rise in education levels brought about by the expectatio...

Using ideas from the endogenous growth literature, we present a model of the endogenous determination of productivity growth based on individual worker decisions about human capital investment. We calibrate a version of the model to match long run growth facts from the US and study the business cycle properties of this model. This approach offers improvements along several dimensions over stand...