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A RECONSIDERATION OF THE NEOCLASSICAL THEORY OF ECONOMIC GROWTH
A RECONSIDERATION OF THE NEOCLASSICAL THEORY OF ECONOMIC GROWTHopenaire
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2015
This chapter discusses the one-sector neoclassical growth model—the foundation for all the growth theory in the book. The primary focus of the chapter is growth via capital accumulation. We think of capital as man-made durable inputs to the production process. The first type of capital we include is physical capital.
Sibabrata Das +2 more
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This chapter discusses the one-sector neoclassical growth model—the foundation for all the growth theory in the book. The primary focus of the chapter is growth via capital accumulation. We think of capital as man-made durable inputs to the production process. The first type of capital we include is physical capital.
Sibabrata Das +2 more
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Extensions to Neoclassical Growth Theory
2015In this chapter, we extend the basic neoclassical growth model in several ways. In the previous chapter, we learned that human capital is an important source of economic growth. Here, we introduce a simple theory of human capital formation based on parents desire to invest in the “quality” or economic productivity of their children.
Sibabrata Das +2 more
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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.
F. Hahn
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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.
F. Hahn
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2001
In Chapters 1 and 2 we considered the role of the money demand function in comparative static models. These models were the dominant macroeconomic paradigm up until thirty years ago. Recently, however, neoclassical growth theory and related dynamical approaches have widely spread into both macroeconomics and monetary economics and are now routinely ...
Apostolos Serletis
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In Chapters 1 and 2 we considered the role of the money demand function in comparative static models. These models were the dominant macroeconomic paradigm up until thirty years ago. Recently, however, neoclassical growth theory and related dynamical approaches have widely spread into both macroeconomics and monetary economics and are now routinely ...
Apostolos Serletis
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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.
S. Sardadvar
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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.
R. Manuelli
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Chapter 9 Neoclassical growth theory
1999Abstract This chapter is an exposition, rather than a survey, of the one-sector neoclassical growth model. It describes how the model is constructed as a simplified description of the real side of a growing capitalist economy that happens to be free of fluctuations in aggregate demand.
R. Solow
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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
R. Solow
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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 ...
N. Crafts
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