When economic growth is less than exponential
نویسندگان
چکیده
منابع مشابه
When economic growth is less than exponential
This paper argues that growth theory needs a more general notion of “regularity” than that of exponential growth. We suggest that paths along which the rate of decline of the growth rate is proportional to the growth rate itself deserve attention. This opens up for considering a richer set of parameter combinations than in standard growth models. Moreover, it avoids the usual oversimplistic dic...
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Macroeconomic instability has been increasingly considered as a factor lowering average income growth and, in this way, is a factor slowing down poverty reduction. But it can also result in slower poverty reduction for a given average rate of growth, due to poverty traps, often examined at the microeconomic level. Testing a model of poverty change on a panel of data for more than 80 countries f...
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engine and airframe manufacturers for decades have cited the direct relationship between engine wear and high exhaust gas temperature (EGT) in recommending that operators use less than maximum takeoff thrust whenever possible. While the cost benefits of reduced-thrust takeoffs are thoroughly documented, the safety benefits are not as well understood. Thus, there is a common perception that usin...
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minimum level. Sometimes more really is more, and less really is less. But often, less is more. If all this piece does is open up the question of whether less is more —if all it does is remind the reader that this is a question, and that our answers to it have important repercussions— then it will have served its purpose. Many ethicists in the ancient tradition argued that human lives could be ...
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ژورنال
عنوان ژورنال: Economic Theory
سال: 2009
ISSN: 0938-2259,1432-0479
DOI: 10.1007/s00199-009-0480-y