Results 231 to 240 of about 119,792 (289)
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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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Mrs Penrose and Neoclassical Theory
Contributions to Political Economy, 1999Abstract Mrs Penrose’s theory of the growth of the firm is widely known and accepted. It has not, however, been fully integrated into standard microeconomics. This was no simple oversight on Mrs Penrose’s part; in the foreword to the third edition of her book, she states quite explicitly, in relation to neoclassical theory, that it is ...
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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 ...
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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 ...
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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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Marginal Consumers and Neoclassical Demand Theory
Journal of Political Economy, 1979We extend the neoclassical theory of demand so that marginal consumers play a significant role in the determination of the elasticity of aggregate demand. Price-induced demand changes are decomposed into three effects: an aggregate substitution effect, an aggregate income effect, and an aggregate change-of-commodity effect.
Novshek, William, Sonnenschein, Hugo
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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 and Neo‐Neoclassical Real Business Cycle Theory
1990Abstract This chapter and the next review two schools of thought on the role of non‐monetary forces acting through non‐monetary channels in the generation of macroeconomic fluctuations. The subject in this chapter is the theory that its developers call ‘real business cycle theory’, and sometimes ‘the real business cycle theory’ as if all
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Non-neoclassical capital theory
World Development, 1979Abstract This paper attempts to identify characteristics of the capital theory which has arisen out of the critique of the neoclassical theory of capital by post-Keynesian school. Both strands are indissolubly integrated with value, distribution and growth theory. However, non-neoclassical theory stresses the importance of social relationships in the
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Testing neoclassical production theory
Journal of Econometrics, 1978Abstract In this paper we propose and carry out some tests that help us evaluate the neoclassical theory of production. First, we use the implied relationship between cost (production) and (inverse) derived demand equations to provide a test which can be interpreted as a test for the validity of the theory.
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Neoclassical General-Equilibrium Theory
1979In this chapter we deal with the over-all structure of general-equilibrium theory. Little emphasis is placed on the distributional aspects of this theory; these are dealt with in the following chapter. The approach is intuitive rather than rigorous, as befits an introduction to the subject.
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