PDF The Solow Model of Economic Growth: Application to Contemporary Macroeconomic Issues (Routledge Studies in Economic Theory, Method and Philosophy) Android
In 1956, Solow proposed a neoclassical growth model in opposition or as an alternative to Keynesian growth models. The Solow model of economic growth provided foundations for models embedded in the new theory of economic growth, known as the theory of endogenous growth, such as the renowned growth models developed by Paul M. Romer and Robert E. Lucas in the 1980s and 90s. The augmentations of the Solow model described in this book, excepting the Phelps golden rules of capital accumulation and the Mankiw-Romer-Weil and Nonneman-Vanhoudt models, were developed by the authors over the last two decades. The book identifies six spheres of interest in modern macroeconomic theory: the impact of fis
In 1956, Solow proposed a neoclassical growth model in opposition or as an alternative to Keynesian growth models. The Solow model of economic growth provided foundations for models embedded in the new theory of economic growth, known as the theory of endogenous growth, such as the renowned growth models developed by Paul M. Romer and Robert E. Lucas in the 1980s and 90s. The augmentations of the Solow model described in this book, excepting the Phelps golden rules of capital accumulation and the Mankiw-Romer-Weil and Nonneman-Vanhoudt models, were developed by the authors over the last two decades. The book identifies six spheres of interest in modern macroeconomic theory: the impact of fis
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PDF The Solow Model of Economic Growth: Application to
Contemporary Macroeconomic Issues (Routledge Studies in
Economic Theory, Method and Philosophy) Android
PDF The Solow Model of Economic Growth: Application to Contemporary
Macroeconomic Issues (Routledge Studies in Economic Theory, Method and
Philosophy) Android
Description :
In 1956, Solow proposed a neoclassical growth model in opposition or as an
alternative to Keynesian growth models. The Solow model of economic growth
provided foundations for models embedded in the new theory of economic
growth, known as the theory of endogenous growth, such as the renowned
growth models developed by Paul M. Romer and Robert E. Lucas in the 1980s
and 90s. The augmentations of the Solow model described in this book,
excepting the Phelps golden rules of capital accumulation and the Mankiw-
Romer-Weil and Nonneman-Vanhoudt models, were developed by the authors
over the last two decades. The book identifies six spheres of interest in
modern macroeconomic theory: the impact of fiscal and monetary policy on
growth the effect of different returns to scale on production the influence of
mobility of factors of production among different countries on their
development the effect of population dynamics on growth the periodicity of
investment rates and their influence on growth and the effect of exogenous
shocks in the form of an epidemic. For each of these issues, the authors
construct and analyze an appropriate growth model that focuses on the
description of the specific macroeconomic problem. This book not only
continues the neoclassical tradition of thought in economics focused on
quantitative economic change but also, and to a significant extent, discusses
alternative approaches to certain questions of economic growth, utilizing
conclusions that can be drawn from the Solow model. It is a useful tool in
analyzing contemporary issues related to growth.
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