RBC teorie - dvousektorový přístup

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Title in English RBC Theory - Two-Sector Approach
Authors

POLANSKÝ Jiří

Year of publication 2006
Type Article in Proceedings
Conference Česká ekonomika v procesu globalizace: kvantitativní metody a modely v ekonomii
MU Faculty or unit

Faculty of Economics and Administration

Citation
Field Economy
Keywords Two-sector approach; real business cycle model; economic growth; productivity; balanced growth path
Description This paper deals with the two-sector approach within the real business cycle theory. The extension of the standard one-sector model allows to capture a “new balanced” growth path where real aggregates for consumption, investment, physical capital, and output grow at constant, but not necessarily the same rates. Moreover, the paper presents an example of a two-sector real business cycle model. This model is derived from micro foundations. It provides a detailed evaluation of productivity shocks within the economy.
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