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Trade and the Diffusion of the Industrial Revolution / Robert E. Lucas, Jr..
- Format:
- Book
- Author/Creator:
- Lucas, Robert E, Jr.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w13286.
- NBER working paper series no. w13286
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2007.
- Summary:
- A model is proposed to describe the evolution of real GDPs in the world economy that is intended to apply to all open economies. The five parameters of the model are calibrated using the Sachs-Warner definition of openness and time-series and cross-section data on incomes and other variables from the 19th and 20th centuries. The model predicts convergence of income levels and growth rates and has strong but reasonable implications for transition dynamics.
- Notes:
- Print version record
- August 2007.
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