An Endogenous Growth Model with Expanding Ranges of Consumer Goods and Producer Durables
构建了一个增长模型，其中差异化消费品和专业化生产者耐用品的范围均由模型内生决定。该特征使得即使在国际金融市场一体化的情况下，国内投资率也与国内储蓄率紧密相关，有助于解释各国增长表现和储蓄行为的差异。
This paper constructs a growth model with the feature that the range of differentiated consumption goods and the range of specialized producer durables are both endogenously determined. I show that this feature allows the domestic investment rate to be closely associated with the domestic saving rate even when international financial markets are integrated. I also argue that this feature is important in explaining the observed cross-country diversity in growth performance and saving behavior.