TY  - JOUR
AU  - Lucas,Robert E., Jr.
TI  - Trade and the Diffusion of the Industrial Revolution 
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 13286
PY  - 2007
Y2  - August 2007
UR  - http://www.nber.org/papers/w13286
L1  - http://www.nber.org/papers/w13286.pdf
N1  - Author contact info:
Robert E. Lucas, Jr.
Department of Economics
The University of Chicago
1126 East 59th Street
Chicago, IL  60637
Tel: 773/702-8179
Fax: 773/702-8490
E-Mail: relucas@midway.uchicago.edu
AB  - A model is proposed to describe the evolution of real GDPs in the world economy that is intended to apply to all open economies. The five parameters of the model are calibrated using the Sachs-Warner definition of openness and time-series and cross-section data on incomes and other variables from the 19th and 20th centuries. The model predicts convergence of income levels and growth rates and has strong but reasonable implications for transition dynamics.
ER  -