Recall that in the Harrod-Domar‚ Kaldor-Robinson‚ Solow-Swan and the Cass-Koopmans growth models‚ we have maintained‚ either explicitly or implicitly‚ that technical change is "exogenous". In the Schumpeter version‚ this was not true: we had "swarms" of inventors arising under particular conditions. The Smithian and Ricardian models also had technical change arising from profit-squeezes or‚ in the particular case of Smith‚ arising because of previous technical conditions. Allyn A. Young (1928)
Premium Economic growth Endogenous growth theory Exogenous growth model
The Theory of Economic Growth: a ‘Classical’ Perspective The Theory of Economic Growth: a ‘Classical’ Perspective Edited by Neri Salvadori University of Pisa‚ Italy Edward Elgar Cheltenham‚ UK • Northampton‚ MA‚ USA Contents Introduction by Neri Salvadori 1. Theories of economic growth: old and new Heinz D. Kurz and Neri Salvadori The structure of growth models: a comparative survey Antonio D’Agata and Giuseppe Freni Endogenous growth theory as a lakatosian case study Mario
Premium Economic growth Endogenous growth theory Economics
1798; Mill‚ 1848; Marx‚ 1878; Marshall‚ 1890; Schumpeter‚ 1934; Harrod‚ 1939 & Domar 1946; et al) placed special attention to the economic growth process. During the second half of the 20th century‚ the neoclassical theory of economic growth was developed‚ which forms the basis of all the models which are used today on economic analysis (Thirlwall‚ 2001). This theory‚ as advanced by Solow
Premium Economic growth Economics Exogenous growth model
MacroEconomics | Essay | Growth Theory and Long-Run Behavior of Economy | | Antara Islam | 6/11/2013 | Institute of Business AdministrationJahangirnagar University | Essay On Growth Theory and Long-Run Behavior of Economy Submitted To: Dr. ShuddhasattwaRafiq Course Instructor Macroeconomics Submitted By: Antara Islam Class ID: 2795 Batch 21 Date of Submission 11 June‚ 2013 Institute of Business Administration Jahangirnagar University Letter of Transmittal
Premium Economics Economic growth Macroeconomics
production? (a) Land (b) Labor (c) Capital (d) Natural resources [16 marks] 2. In an exogenous growth model‚ growth is caused by (a) capital accumulation. (b) government policies. (c) human capital accumulation. (d) forces that are not explained by the model itself. [16marks] 3. Suppose that two countries share identical levels of total factor productivity‚ identical labor force growth rates and identical savings rates. According to the Solow model (a) the country with the greater initial
Premium Economic growth Exogenous growth model Endogenous growth theory
decreasing importance of quantitative models in regional planning? What is current role of quantitative methods in planning? First‚ the changing rationality in which the planning is based upon; second‚ the changes in growth theories and third‚ the changes in spatial/regional development theories. These three streams of theoretical debates are very much interconnected and constitute the different segments of economic and political regime in a certain period. The brief analysis on these theoretical concerns
Premium Economic growth Economics Macroeconomics
Banco Central de Chile Documentos de Trabajo Central Bank of Chile Working Papers N° 156 Mayo 2002 THE EFFECTS OF BUSINESS CYCLES ON GROWTH Antonio Fatás La serie de Documentos de Trabajo en versión PDF puede obtenerse gratis en la dirección electrónica: http://www.bcentral.cl/Estudios/DTBC/doctrab.htm. Existe la posibilidad de solicitar una copia impresa con un costo de $500 si es dentro de Chile y US$12 si es para fuera de Chile. Las solicitudes se pueden hacer por fax: (56-2)
Premium Business cycle Economic growth Macroeconomics
1. The AK growth model The models described so far all have the implication that changes in government policies‚ such as subsidies to research or capital investment‚ have level effects but no long-run growth effects. That is‚ these policies raise the growth rate temporarily as the economy grows to a higher level of the balanced growth path. But in the long run‚ the growth rate returns to its initial level. There are two meanings of the phrase endogenous growth: [1] Long-run growth is not driven
Premium Economic growth Economics Capital accumulation
between economic growth and telecommunication development. Theories and empirical studies proved how the indicators of the two variables caused each other. Figure 3. Direction of causality between Economic Growth and Telecommunication Development technological innovation increasing number of subscribers Telecommunication Development Economic Growth government regulations and policies Yt = AKt According to Dornbusch (2003)‚ Solow and Swan model or the ‘exogenous growth model’ is the
Premium Economic growth Endogenous growth theory Exogenous growth model
Why Development Levels Differ: The Sources of Differential Economic Growth in a Panel of High and Low Income Countries Charles R. Hulten University of Maryland and NBER and Anders Isaksson Research and Statistics Branch United Nations Industrial Development Organization (UNIDO) September 2007 Acknowledgements: We would like to thank the participants at the NBER Summer Institute 2006‚ as well as Nobuya Haraguchi‚ for helpful comments and suggestions. Any remaining errors are our own. Disclaimer:
Premium Exogenous growth model Economic growth Economics