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Title:An experimental AK model of growth PDF Logo
Authors:Ponzano, Ferruccio
Ricciuti, Roberto
Issue Date:2012
Series/Report no.:CESifo working paper: Fiscal Policy, Macroeconomics and Growth 3744
Abstract:In this paper we test the AK model of growth with laboratory experiments. In each period, agents produce and trade output in a market, and allocate it to consumption and investment. The economy should experience a constant and positive rate of growth. We analyze two treatments differing from technology. We find evidence of positive and constant growth, and the treatment with a better technology exhibits higher growth. Remarkably, production, consumption and the capital stock grow at the same rate in the treatment with lower technology. We find that this growth process is fuelled by large inequalities between subjects.
Subjects:endogenous growth
capital accumulation
Document Type:Working Paper
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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