; ; ; "ActiveFedora::Aggregation::ListSource" . a , ; "Temporal Aggregation in a Multi-Sector Economy With Endogenous Growth"; ; "batchuser@example.com"; "Michel, Philippe", "Mercenier, Jean"; "Federal Reserve Bank of Minneapolis"; "We provide a theoretical treatment of temporal aggregation in models that exhibit long-term endogenously-generated steady growth; hence generalizing our previous analysis (_Econometrica_ 62, 1994, pp. 635–56). We introduce the _property of steady-growth invariance_—that the long-term growth of the continuous-time economy not be affected by the discretization—which imposes consistency restrictions on the joint formulation of preferences and stock accumulation of the discrete-time approximation. We establish, under mild conditions, these restrictions in the form of necessary and sufficient conditions on the discretization. "^^; "1995-09"; "2019-07-30T16:16:49.323866886+00:00"^^; "https://doi.org/10.21034/wp.554"; ; "https://creativecommons.org/licenses/by-nc/4.0/"; "2019-10-25T16:16:04.916945826+00:00"^^; "https://creativecommons.org/licenses/by-nc/4.0/"; "Research Paper"; "521", "517"; "Working paper (Federal Reserve Bank of Minneapolis. Research Department)"; "554"; ; ; ; ; "Federal Reserve Bank of Minneapolis. Research Department"; "Published in _Journal of Economic Dynamics and Control_ (Vol. 25, No. 8, August 2001, pp. 1179-1191), https://doi.org/10.1016/S0165-1889(99)00051-2."^^; ; "Publication" . ; .