منابع مشابه
Difference or ratio: Implication of status preference on stagnation
We consider a dynamic macroeconomic model with households that regard relative affluence as social status. The measure of relative affluence can be the ratio to, or the difference from, the social average. The two specifications lead to quite different results: with the ratio specification full employment is necessarily realized, whereas with the difference specification persistent shortages of...
متن کاملExternalities, growth, and regional stagnation
This paper discusses the impact of externalities on economic growth and the long term distribution of economic activities in a system of two regions. We use a standard neoclassical growth model of the Solow-type and augment it with a random process of innovation allocation. The long term behavior of this model is analyzed. As it turns out the dynamic behavior of our model differs fundamentally ...
متن کاملDiscussion Paper No. 856 DIFFERENCE OR RATIO: IMPLICATION OF STATUS PREFERENCE ON STAGNATION
We consider a dynamic macroeconomic model with households that regard relative affluence as social status. The measure of relative affluence can be the ratio to, or the difference from, the social average. The two specifications lead to quite different results: with the ratio specification full employment is necessarily realized, whereas with the difference specification persistent shortages of...
متن کاملSteindlian models of growth and stagnation
Following an analysis of the relation between a standard Steindlian model of stagnation and Steindl’s own analysis, we modify the standard model by introducing endogenous changes in the markup and a reformulation of the investment function. These extensions, which address significant weaknesses of the standard model, find support in Steindl’s writing and leave intact some of Steindl’s key resul...
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Growth of human population shows no signs of stagnation. The only small disturbance is identified as being probably associated with the coinciding impacts of five demographic catastrophes. The concept of the Epoch of Malthusian Stagnation is convincingly contradicted by empirical evidence.
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2008
ISSN: 1556-5068
DOI: 10.2139/ssrn.1147915