Endogenous growth: Estimating the Romer model for the US and Germany

Gong G, Greiner A, Semmler W (2004)
OXFORD BULLETIN OF ECONOMICS AND STATISTICS 66(2): 147-164.

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Zeitschriftenaufsatz | Veröffentlicht | Englisch
Abstract / Bemerkung
By contrasting endogenous growth models with facts, one is frequently confronted with the prediction that levels of economic variables, such as R&D expenditures, imply lasting effects on the growth rate of an economy. As stylized facts show, the research intensity in most advanced countries has dramatically increased, mostly more than the GDP. Yet, the growth rates have roughly remained constant or even declined. In this paper we modify the Romer endogenous growth model and test our variant of the model using time series data. We estimate the market version both for the US and Germany for the time period January 1962 to April 1996. Our results demonstrate that the model is compatible with the time series for aggregate data in those countries. All parameters fall into a reasonable range.
Erscheinungsjahr
Zeitschriftentitel
OXFORD BULLETIN OF ECONOMICS AND STATISTICS
Band
66
Zeitschriftennummer
2
Seite
147-164
ISSN
eISSN
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Gong G, Greiner A, Semmler W. Endogenous growth: Estimating the Romer model for the US and Germany. OXFORD BULLETIN OF ECONOMICS AND STATISTICS. 2004;66(2):147-164.
Gong, G., Greiner, A., & Semmler, W. (2004). Endogenous growth: Estimating the Romer model for the US and Germany. OXFORD BULLETIN OF ECONOMICS AND STATISTICS, 66(2), 147-164. doi:10.1046/j.0305-9049.2003.00082.x
Gong, G., Greiner, A., and Semmler, W. (2004). Endogenous growth: Estimating the Romer model for the US and Germany. OXFORD BULLETIN OF ECONOMICS AND STATISTICS 66, 147-164.
Gong, G., Greiner, A., & Semmler, W., 2004. Endogenous growth: Estimating the Romer model for the US and Germany. OXFORD BULLETIN OF ECONOMICS AND STATISTICS, 66(2), p 147-164.
G. Gong, A. Greiner, and W. Semmler, “Endogenous growth: Estimating the Romer model for the US and Germany”, OXFORD BULLETIN OF ECONOMICS AND STATISTICS, vol. 66, 2004, pp. 147-164.
Gong, G., Greiner, A., Semmler, W.: Endogenous growth: Estimating the Romer model for the US and Germany. OXFORD BULLETIN OF ECONOMICS AND STATISTICS. 66, 147-164 (2004).
Gong, G, Greiner, Alfred, and Semmler, Willi. “Endogenous growth: Estimating the Romer model for the US and Germany”. OXFORD BULLETIN OF ECONOMICS AND STATISTICS 66.2 (2004): 147-164.