International Journal of Business and Economics Volume 1, No. 3 December, 2002

Technological Diffusion in the Ramsey Model

Petr Duczynski

Economics Institute, Academy of Sciences of the Czech Republic, Czech Republic

Abstract

This paper introduces technological diffusion in the neoclassical growth model. A log-linearized approximation of the model is solved analytically. Due to the presence of two negative eigenvalues, the model's dynamics are richer than the dynamics of the basic neoclas-sical growth model.

Keywords：convergence, diffusion of technology, neoclassical growth.

JEL Classifications：O4.

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