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ifo Institut – Leibniz-Institut für Wirtschaftsforschung an der Universität München >
CESifo Working Papers, CESifo Group Munich >
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http://hdl.handle.net/10419/55870
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| Title: | | An experimental AK model of growth  |
| 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 heterogeneity experiments |
| JEL: | | O41 C91 C92 |
| Document Type: | | Working Paper |
| Appears in Collections: | | CESifo Working Papers, CESifo Group Munich
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