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A RECONSIDERATION OF THE NEOCLASSICAL THEORY OF ECONOMIC GROWTH
A RECONSIDERATION OF THE NEOCLASSICAL THEORY OF ECONOMIC GROWTHopenaire
Neoclassical production theory and growth with unemployment: The stability issue revisited
Structural Change and Economic Dynamics, 2009 Abstract A common belief in economic growth theory is that the instability of the balanced growth path of models based on a non-neoclassical production theory, such as the Harrod–Domar or Goodwin-type models, may be removed by introducing neoclassical technology and substitutability between factors. This does not need to be true.
Luciano Fanti, Piero Manfredi
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Chapter 9 Neoclassical growth theory
Handbook of Macroeconomics, 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.
Robert M Solow
exaly +2 more sources
Structural Change and Economic Dynamics, 2021 This paper presents a critical analysis of the naïve neoclassical theory of capital by applying it to Turkish economic history. The paper first develops a unified framework of theoretical predictions on growth, distribution, and dynamic inefficiency ...
M Aykut Attar
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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
openaire +1 more source
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
openaire +1 more source
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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Toward a general neoclassical theory of economic growth
The Philippine Review of Economics, 2023The Harrod-Domar (H-D) growth model assumes a fixed capital-output ratio, signifying absence of substitutability between capital and labor, leading to a “knife-edge” problem wherein balanced growth of capital (fixed warranted rate) and labor (fixed natural rate) occurs only by accident, preventing the attainment of macroeconomic stability with full ...
openaire +1 more source
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
openaire +1 more source
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
openaire +1 more source