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Costly financial intermediation in neoclassical growth theory [PDF]
SSRN Electronic Journal, 2011 The neoclassical growth model is extended to include costly intermediated borrowing and lending between households. This is an important extension as substantial resources are used in intermediating the large amount of borrowing and lending between ...
Edward C. Prescott +2 more
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Neoclassical Growth Theory and Heterodox Growth Theory: Opportunities For and Obstacles To Greater Engagement [PDF]
SSRN Electronic Journal, 2009 This paper explores the possibilities for and likely impediments to greater engagement between neoclassical and heterodox growth theorists. Simple structural models are used to identify the essential “mechanics” of the growth process in both the ...
Mark Setterfield
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Uganda’s growth Determinants: A Test of the Relevance of the Neoclassical Growth Theory
Modern Economy, 2021 The purpose of this study is to investigate whether Uganda’s economic growth determinants can fully be analyzed within the framework of the neoclassical growth theory. The study uses quarterly data for the period 2007-2018. The underlying empirical models are estimated using IV-GMM in the specific-to-general modeling approach.
Peter Ivans Rumanzi +4 more
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ELEMENTS OF THE NEOCLASSICAL GROWTH THEORY
STUDIES AND SCIENTIFIC RESEARCHES. ECONOMICS EDITION, 2014 One of the relevant components of the contemporary economic science is the economic growth theory, the economic background of the time leading to new guidelines of the research. The neoclassical growth theory - the core of modern analysis - explains how the capital accumulation and technological changes affect the economy, significant for the analysis ...
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The neoclassical theory of growth and distribution
PSL Quarterly Review, 2000 The paper surveys the neoclassical theory of growth. As a preliminary, the meaning of the adjective "neoclassical" is discussed. The basic model is then sketched, and the conditions ensuring a stationary state are illustrated. The issue of the convergence to a stationary state (and that of the speed of convergence) is further considered.
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Path Dependence in Neoclassical Economic Growth Theory
Acta Physica Polonica A, 2015 technical solutions. The analysis of historical conditions is almost entirely carried out with the use of qualitative methods, since the subject of the research is non-formalized. In addition, the theoretical basis for conducting relevant empirical research is still missing.
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To Save or To Consume: Linking Growth Theory to with Keynesian Model [PDF]
In the neoclassical growth theory, higher saving rate gives rise to higher output per capita. However, in the Keynesian model, higher saving rate causes lower consumption, which may lead to a recession.
Yun-Kwong Kwok
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Testing the Neoclassical Theory of Economic Growth: A Panel Data Approach
IMF Working Papers, 1992 Several recent empirical studies have examined determinants of economic growth using country average (cross-section) data. In contrast, this paper employs a technique for using a panel of both cross-section and time-series data for 98 industrial and developing countries over 1960-85 to determine the quantitative importance for economic growth of both ...
Malcolm Knight +2 more
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Neoclassical vs Evolutionary Theories of Financial Constraints : Critique and Prospectus [PDF]
Complicated neoclassical models predict that if investment is sensitive to current financial performance, this is a sign that something is "wrong" and is to be regarded as a problem for policy.
Alex Coad
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What drives productivity growth? [PDF]
Economists have long debated the best way to explain the sources of productivity growth. Neoclassical theory and "new growth" theory both regard investment—broadly defined to include purchases of tangible assets, human capital expenditures, and research ...
Kevin J. Stiroh
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