Multiple Equilibrium, Variability, and the Development Process /
Per capita output is more volatile in middle-income economies than in both low-income and high-income economies. We examine this pattern in a two-period overlapping generations model with two productive sectors (a developed sector and a subsistence sector) and a credit sector. In the early and matur...
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| Format: | Revista |
| Idioma: | English |
| Publicat: |
Washington, D.C. :
International Monetary Fund,
1998.
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| Col·lecció: | IMF Working Papers; Working Paper ;
No. 1998/062 |
| Accés en línia: | Full text available on IMF |