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The empirical foundation of the golden rule

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  • Víctor J.Elías

Abstract

This paper analizes with cross-sectional data if the Golden Rule condition satisfies: where the saving index is equal to capital (beta) or to the real interest rate, equal to the gross output growth of households.

Suggested Citation

  • Víctor J.Elías, 2001. "The empirical foundation of the golden rule," Estudios de Economia, University of Chile, Department of Economics, vol. 28(1 Year 20), pages 79-88, June.
    • Handle: RePEc:udc:esteco:v:28:y:2001:i:1:p:79-88
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    References listed on IDEAS

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    1. Andrew B. Abel & N. Gregory Mankiw & Lawrence H. Summers & Richard J. Zeckhauser, 1989. "Assessing Dynamic Efficiency: Theory and Evidence," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 56(1), pages 1-19.
    2. Friedman, Milton, 1971. "A Monetary Theory of Nominal Income," Journal of Political Economy, University of Chicago Press, vol. 79(2), pages 323-337, March-Apr.
    3. Douglas Gollin, 2002. "Getting Income Shares Right," Journal of Political Economy, University of Chicago Press, vol. 110(2), pages 458-474, April.
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    More about this item

    Keywords

    Development; efficiency; welfare.;
    All these keywords.

    JEL classification:

    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O20 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - General

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