Alternative Monetary Policies in a Turnpike Economy (2007)
Rodolfo Manuelli, Thomas J. Sargent
: A version of a Townsend turnpike model is described in which agents stay at a location long enough to trade some consumption loans, but not long enough to support an Arrow-Debreu allocation....
ABSTRACT We present class convex endogenous growth models analyze their performance terms both growth and business cycle criteria. The models we study have close analogs business cycle erature....
Policy Uncertainty, Total Factor Productivity and Growth,” working paper (2003)
This note shows that differences (across sectors or regions) in the effective price of inputs results in low measured total factor productivity (TFP). 1
Five Games and Two Objective Functions that Promote Robustness (1999)
Lars Peter Hansen, Thomas J. Sargent, Larry Jones, Rodolfo Manuelli
Robust decision rules are designed to work well despite a set of possible model misspecifications. For discounted infinite horizon linear quadratic control problems, we describe two frequency domain...
A Convex Model of Equilibrium Growth
Larry E. Jones, Rodolfo Manuelli
Our aim in this paper is to exposit a convex model of equilibrium growth. The model is strictly in the Solow tradition. The model has two features which distinguish it from most other work on the...
Frictionless technology diffusion: the case of tractors
Rodolfo Manuelli, Ananth Seshadri
Empirical evidence suggests that there is a long lag between the time a new technology is introduced and the time at which it is widely adopted. The conventional wisdom is that these observations are...
Larry Jones, Rodolfo Manuelli, Henry Siu
Our purpose in this paper is to present a class of convex endogenous growth models, and to analyze their performance in terms of both growth and business cycle criteria. The models we study have...
Frictionless Technology Diffusion: The Case of Tractors
Rodolfo Manuelli, Ananth Seshadri
Empirical evidence suggests that there is a long lag between the time a new technology is introduced and the time at which it is widely adopted. The conventional wisdom is that these observations are...