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2010
This chapter provides a detailed description of the current neoclassical growth theories. Beginning with a short introduction on exponential growth patterns, the following sections present three different model types: Exogenous, Endogenous and Semi-endogenous growth. The individual sub-chapters conclude with an analysis of demographic components within
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This chapter provides a detailed description of the current neoclassical growth theories. Beginning with a short introduction on exponential growth patterns, the following sections present three different model types: Exogenous, Endogenous and Semi-endogenous growth. The individual sub-chapters conclude with an analysis of demographic components within
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1987
Neoclassical growth theory is not a theory of history. In a sense it is not even a theory of growth. Its aim is to supply an element in an eventual understanding of certain important elements in growth and to provide a way of organizing one’s thoughts on these matters.
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Neoclassical growth theory is not a theory of history. In a sense it is not even a theory of growth. Its aim is to supply an element in an eventual understanding of certain important elements in growth and to provide a way of organizing one’s thoughts on these matters.
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Neoclassical Growth Theory (New Perspectives)
2008This article complements neoclassical growth theory. It discusses some developments of the neoclassical growth theory that endogenize the saving rates.
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Neoclassical Growth Theory and Standard Models
2010Thoughts and theories on economic growth can be traced back to the classical economists of the eighteenth and nineteenth century, whose works are briefly reviewed alongside the transition to neoclassical growth theory in Sect. 2.1. The basic outline of neoclassical growth models as first developed by Solow (1956) and Swan (1956) is presented in Sect. 2.
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Critical survey. Savings and economic growth in neoclassical theory
Cambridge Journal of Economics, 1999In neoclassical economics economic growth depends upon savings. The paper discusses problems with this conventional view, and how these have been tackled, from pre-Solowian authors up to the recent New or Endogenous Growth Theory (EGT). These difficulties became particularly clear with the Solow‐Swan model of growth in which the savings rate did not ...
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From Neoclassical Growth Theory to New Classical Macroeconomics
2001The puzzle I want to discuss — at least it seems to me to be a puzzle, though part of the puzzle is why it does not seem to be a puzzle to many of my younger colleagues — is this. More than forty years ago, I — and many others, especially Trevor Swan and James Tobin — worked out what has since come to be called neoclassical growth theory. It may not be
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'Post-neoclassical endogenous growth theory': what are its policy implications?
Oxford Review of Economic Policy, 1996Ideas from new growth economics are considered in the context of British economic policy. A distinction is drawn between "broad capital" and "endogenous innovation" growth models and the latter are seen as more helpful. Solow's insight that in the long run growth is independent of routine investment is regarded as still valid but the neoclassical ...
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Biased Technical Progress and a Neoclassical Theory of Economic Growth
The Quarterly Journal of Economics, 1964I. Introduction, 129. — II. A Neoclassical growth model, 130. — III. Properties of an equilibrium growth path, 132. — IV. Stability conditions, 133.— V. Induced inventions, 135. — Appendix, 137.
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NEOCLASSICAL ECONOMIC GROWTH THEORY: AN EMPIRICAL APPROACH
2013This paper contributes to the empirical literature by providing a simple theoretical and empirical literature framework. For this purpose we address the neoclassical model of capital accumulation reproduces many of the stylised facts about economic growth and is consistent with many features of actual growth in economies.
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