Classical and technological convergence: beyond the Solow-Swan growth model
نویسندگان
چکیده
منابع مشابه
Transitional Dynamics in the Solow-Swan Growth Model with AK Technology and Logistic Population Change∗
This paper offers an alternative way, based on the logistic population growth hypothesis, to yield transitional dynamics in the standard AK model with exogenous savings rate. Within this framework, we show that the dynamics of the capital stock per person and its growth rate can be non-monotonic over time. Moreover, even in the presence of negative growth, the capital stock per-capita can conve...
متن کاملThe Solow Model in the Empirics of Growth and Trade*
Translated to a cross-country context, the Solow model (Solow, 1956) predicts that international differences in steady state output per person are due to international differences in technology for a constant capital output ratio. However, most of the cross-country growth literature that refers to the Solow model has employed a specification where steady state differences in output per person a...
متن کاملSolow ’ s Model of Economic Growth
Robert Solow received the 1987 Nobel Prize in economics for developing the leading model of economic growth. The model is based on the premise that cross-country differences in income per person are the result (primarily) of differences in national savings rates (savings finances increases in the capital stock). We illustrate its properties and show how it can be used as a tool for exploring th...
متن کاملIntermediate Macroeconomics: Economic Growth and the Solow Model
ing from money, meaning everything is denominated in units of goods, e.g. fruit). Total cost is the wage bill plus the capital bill. Let wt be the real wage rate – it is the number of goods the firm must pay each unit of labor. Let Rt be the real “rental rate” – it is the number of goods the firm must give up to lease a unit of capital. The firm is a price-taker, so it takes these as given. Pro...
متن کاملBeyond Classical Thermodynamics: Grain Growth
It is my great pleasure to give a talk at the Martin Glicksman Festival. The work which I was going to present here was published recently [1], and I decided to shift the discussion to the motivation of this work, which seems more interesting than the work itself. It is gradually being recognized in various branches of physics that the macroscopic description of solids requires “new thermodynam...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Oxford Economic Papers
سال: 2002
ISSN: 1464-3812
DOI: 10.1093/oep/54.3.369