A stochastic model of endogenous growth: the mexican case, 1930-2002
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Endogenous growth, stochastic modellingResumen
In this research, we develope a stochastic model of endogenous growth. We assume that the exchange rate is driven by a mixed diffusion-jump process, and the tax rate on wealth is governed by a geometric Brownian motion. We also suppose that contingent claims for hedging against future exchange-rate depreciation are not available. Finally, we use the proposed model to carry out a Monte Carlo simulation experiment that explains the observed mean growth rate of output for the Mexican case between 1930 and 2002.
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Esta obra está bajo una licencia internacional Creative Commons Atribución-NoComercial-SinDerivadas 4.0.
