Solow ’ s Model of Economic Growth
نویسنده
چکیده
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 the implications of changes in saving rates, the labor force, and productivity.
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