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Erscheinungsjahr: 
2012
Schriftenreihe/Nr.: 
CESifo Working Paper No. 3744
Verlag: 
Center for Economic Studies and ifo Institute (CESifo), Munich
Zusammenfassung: 
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.
Schlagwörter: 
endogenous growth
capital accumulation
heterogeneity
experiments
JEL: 
O41
C91
C92
Dokumentart: 
Working Paper
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