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Transitional Dynamics In The Uzawa Lucas Model Of Endogenous Growth
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Book Synopsis The Uzawa-Lucas Endogenous Growth Model by : Paolo Mattana
Download or read book The Uzawa-Lucas Endogenous Growth Model written by Paolo Mattana and published by Routledge. This book was released on 2017-11-30 with total page 181 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using state of the art mathematical techniques this book provides a complete characterization of the Uzawa-Lucas growth model. In his path-breaking contribution on the 'Mechanics of Economic Growth' Lucas suggested that human capital is the key variable through which technical change is most likely to occur and (by taking some initial intuitions of Uzawa a step further) proposed a two-sector capital accumulation growth model where human capital is allowed to enter a neo-classical-style production structure in multiplicative terms. In this book Paolo Mattana fully explores the dynamic possibilities of the model from both the market and the centralized perspective. A critical evaluation of the inefficiency in the market economy is also provided.
Book Synopsis Economic Growth, second edition by : Robert J. Barro
Download or read book Economic Growth, second edition written by Robert J. Barro and published by MIT Press. This book was released on 2003-10-10 with total page 676 pages. Available in PDF, EPUB and Kindle. Book excerpt: The long-awaited second edition of an important textbook on economic growth—a major revision incorporating the most recent work on the subject. This graduate level text on economic growth surveys neoclassical and more recent growth theories, stressing their empirical implications and the relation of theory to data and evidence. The authors have undertaken a major revision for the long-awaited second edition of this widely used text, the first modern textbook devoted to growth theory. The book has been expanded in many areas and incorporates the latest research. After an introductory discussion of economic growth, the book examines neoclassical growth theories, from Solow-Swan in the 1950s and Cass-Koopmans in the 1960s to more recent refinements; this is followed by a discussion of extensions to the model, with expanded treatment in this edition of heterogenity of households. The book then turns to endogenous growth theory, discussing, among other topics, models of endogenous technological progress (with an expanded discussion in this edition of the role of outside competition in the growth process), technological diffusion, and an endogenous determination of labor supply and population. The authors then explain the essentials of growth accounting and apply this framework to endogenous growth models. The final chapters cover empirical analysis of regions and empirical evidence on economic growth for a broad panel of countries from 1960 to 2000. The updated treatment of cross-country growth regressions for this edition uses the new Summers-Heston data set on world income distribution compiled through 2000.
Book Synopsis Introduction to Modern Economic Growth by : Daron Acemoglu
Download or read book Introduction to Modern Economic Growth written by Daron Acemoglu and published by Princeton University Press. This book was released on 2008-12-15 with total page 1009 pages. Available in PDF, EPUB and Kindle. Book excerpt: From Nobel Prize–winning economist Daron Acemoglu, an incisive introduction to economic growth Introduction to Modern Economic Growth is a groundbreaking text from one of today's leading economists. Daron Acemoglu gives graduate students not only the tools to analyze growth and related macroeconomic problems, but also the broad perspective needed to apply those tools to the big-picture questions of growth and divergence. And he introduces the economic and mathematical foundations of modern growth theory and macroeconomics in a rigorous but easy to follow manner. After covering the necessary background on dynamic general equilibrium and dynamic optimization, the book presents the basic workhorse models of growth and takes students to the frontier areas of growth theory, including models of human capital, endogenous technological change, technology transfer, international trade, economic development, and political economy. The book integrates these theories with data and shows how theoretical approaches can lead to better perspectives on the fundamental causes of economic growth and the wealth of nations. Innovative and authoritative, this book is likely to shape how economic growth is taught and learned for years to come. Introduces all the foundations for understanding economic growth and dynamic macroeconomic analysis Focuses on the big-picture questions of economic growth Provides mathematical foundations Presents dynamic general equilibrium Covers models such as basic Solow, neoclassical growth, and overlapping generations, as well as models of endogenous technology and international linkages Addresses frontier research areas such as international linkages, international trade, political economy, and economic development and structural change An accompanying Student Solutions Manual containing the answers to selected exercises is available (978-0-691-14163-3/$24.95). See: https://press.princeton.edu/titles/8970.html For Professors only: To access a complete solutions manual online, email us at: [email protected]
Book Synopsis Economic Growth, second edition by : Robert J. Barro
Download or read book Economic Growth, second edition written by Robert J. Barro and published by MIT Press. This book was released on 2003-10-10 with total page 673 pages. Available in PDF, EPUB and Kindle. Book excerpt: The long-awaited second edition of an important textbook on economic growth—a major revision incorporating the most recent work on the subject. This graduate level text on economic growth surveys neoclassical and more recent growth theories, stressing their empirical implications and the relation of theory to data and evidence. The authors have undertaken a major revision for the long-awaited second edition of this widely used text, the first modern textbook devoted to growth theory. The book has been expanded in many areas and incorporates the latest research. After an introductory discussion of economic growth, the book examines neoclassical growth theories, from Solow-Swan in the 1950s and Cass-Koopmans in the 1960s to more recent refinements; this is followed by a discussion of extensions to the model, with expanded treatment in this edition of heterogenity of households. The book then turns to endogenous growth theory, discussing, among other topics, models of endogenous technological progress (with an expanded discussion in this edition of the role of outside competition in the growth process), technological diffusion, and an endogenous determination of labor supply and population. The authors then explain the essentials of growth accounting and apply this framework to endogenous growth models. The final chapters cover empirical analysis of regions and empirical evidence on economic growth for a broad panel of countries from 1960 to 2000. The updated treatment of cross-country growth regressions for this edition uses the new Summers-Heston data set on world income distribution compiled through 2000.
Book Synopsis Endogenous Innovation by : Cristiano Antonelli
Download or read book Endogenous Innovation written by Cristiano Antonelli and published by Edward Elgar Publishing. This book was released on with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: This ground-breaking new book builds upon the Schumpeterian creative response. The author shows that firms, in out-of-equilibrium conditions, try and react by means of introducing innovations. The success of their reaction is contingent upon their access conditions to knowledge, which are shaped by the system in which they operate. The emergence of new innovations can, in turn, knock firms further out-of-equilibrium and cause changes in the system properties that govern their access to external knowledge. This path dependent loop of interactions between the system properties and the individual actions of firms, accounts for endogenous innovation and the dynamics of the system.
Book Synopsis Transitional Dynamics and Economic Growth in Developing Countries by : Thomas Steger
Download or read book Transitional Dynamics and Economic Growth in Developing Countries written by Thomas Steger and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 161 pages. Available in PDF, EPUB and Kindle. Book excerpt: Four stylised facts of aggregate economic growth are set up initially. The growth process is interpreted to represent transitional dynamics rather than balanced-growth equilibria. Against this background, the fundamental importance of subsistence consumption is comprehensively analysed. Subsequently, the meaning of the productive-consumption hypothesis for the intertemporal consumption trade-off and the growth process is investigated. Finally, the process of growth is analysed empirically by means of cross-sectional conditional convergence regressions with endogenous control variables.
Book Synopsis Economic Growth by : Alfonso Novales
Download or read book Economic Growth written by Alfonso Novales and published by Springer Science & Business Media. This book was released on 2008-10-20 with total page 543 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a book on deterministic and stochastic Growth Theory and the computational methods needed to produce numerical solutions. Exogenous and endogenous growth models are thoroughly reviewed. Special attention is paid to the use of these models for fiscal and monetary policy analysis. Modern Business Cycle Theory, the New Keynesian Macroeconomics, the class of Dynamic Stochastic General Equilibrium models, can be all considered as special cases of models of economic growth, and they can be analyzed by the theoretical and numerical procedures provided in the textbook. Analytical discussions are presented in full detail. The book is self contained and it is designed so that the student advances in the theoretical and the computational issues in parallel. EXCEL and Matlab files are provided on an accompanying website to illustrate theoretical results as well as to simulate the effects of economic policy interventions.
Book Synopsis Growth and Structural Transformation by : Kwang Suk Kim
Download or read book Growth and Structural Transformation written by Kwang Suk Kim and published by BRILL. This book was released on 2020-03-17 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study provides a comprehensive overview of Korea’s macroeconomic growth and structural change since World War II, and traces some of the roots of development to the colonial period. The authors explore in detail colonial development, changing national income patterns, relative price shifts, sources of aggregate growth, and sources of sectoral structural change, comparing them with other countries.
Book Synopsis Intertemporal Substitution in Macroeconomics by : N. Gregory Mankiw
Download or read book Intertemporal Substitution in Macroeconomics written by N. Gregory Mankiw and published by Palala Press. This book was released on 2018-02-19 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work. This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Book Synopsis Nonlinear Dynamics in Equilibrium Models by : John Stachurski
Download or read book Nonlinear Dynamics in Equilibrium Models written by John Stachurski and published by Springer Science & Business Media. This book was released on 2012-01-25 with total page 454 pages. Available in PDF, EPUB and Kindle. Book excerpt: Optimal growth theory studies the problem of efficient resource allocation over time, a fundamental concern of economic research. Since the 1970s, the techniques of nonlinear dynamical systems have become a vital tool in optimal growth theory, illuminating dynamics and demonstrating the possibility of endogenous economic fluctuations. Kazuo Nishimura's seminal contributions on business cycles, chaotic equilibria and indeterminacy have been central to this development, transforming our understanding of economic growth, cycles, and the relationship between them. The subjects of Kazuo's analysis remain of fundamental importance to modern economic theory. This book collects his major contributions in a single volume. Kazuo Nishimura has been recognized for his contributions to economic theory on many occasions, being elected fellow of the Econometric Society and serving as an editor of several major journals. Chapter “Introduction” is available open access under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License via link.springer.com.
Book Synopsis Economic Growth and Environmental Policy by : Frank Hettich
Download or read book Economic Growth and Environmental Policy written by Frank Hettich and published by Edward Elgar Publishing. This book was released on 2000-01-01 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book should interest all students and scholars of environmental economics and particularly those interested in the relationship between economic growth and environmental quality.
Book Synopsis Human Capital, Trade, and Public Policy in Rapidly Growing Economies by : Michele Boldrin
Download or read book Human Capital, Trade, and Public Policy in Rapidly Growing Economies written by Michele Boldrin and published by Edward Elgar Publishing. This book was released on 2004-01-01 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: Human Capital, Trade and Public Policy in Rapidly Growing Economies argues that only two centuries ago, no society had ever enjoyed sustained growth in living standards. The contributors to this book aim to discover why the world today exhibits a predilection for perpetual self-improvement. In particular, the book focuses on the forces underlying long-lasting growth in East Asia's Newly Industrialized Countries (NICs). Drawing from the experiences of Hong Kong, South Korea, Singapore and Taiwan, it questions whether public policy can contribute to removing barriers towards accumulation of wealth, and if so, what development policy should be put in place to remedy the existing distortions or market failure problems.
Book Synopsis A Portrait of State-of-the-Art Research at the Technical University of Lisbon by : Manuel Seabra Pereira
Download or read book A Portrait of State-of-the-Art Research at the Technical University of Lisbon written by Manuel Seabra Pereira and published by Springer Science & Business Media. This book was released on 2007-11-24 with total page 605 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book celebrates the 75th anniversary of The Technical University of Lisbon (UTL). It provides a compelling picture of current state-of-art research at UTL. It contains the edited version of the invited lectures from a two day Symposium and brings together a comprehensive summary of high quality research contributions across basic and applied sciences. A broad spectrum of topics is covered reflecting UTL’s worldwide recognition.
Book Synopsis Economic Development and the Division of Labor by : Xiaokai Yang
Download or read book Economic Development and the Division of Labor written by Xiaokai Yang and published by John Wiley & Sons. This book was released on 2008-04-15 with total page 664 pages. Available in PDF, EPUB and Kindle. Book excerpt: This innovative new text from Jeffrey Sachs and Xiokai Yangintroduces students to development economics from the perspectivesof inframarginal analysis and marginal analysis. The bookdemonstrates how the new-found emphasis on inframarginal analysishas influenced a shift back to an interest in Classical Economicsfrom Neoclassical Economics. Inframarginal Analysis vs. Marginal Analysis is presented as aconsistent theoretical framework throughout. Shows how the relationship of Inframarginal Analysis toMarginal Analysis has influenced the shift back to an interest inClassical Economics from Neoclassical Economics with regard toeconomic development. Allows economists to reduce their overall reliance on marginalanalysis, which may be less relevant to development economics thanit is to the economics of development countries. Brings considerable analytic machinery to bear on importantproblems. A focus on institutions and transaction costs that is veryrelevant to development economics. Offers a thorough analysis of trade (CHs. 3 - 7) andmacroeconomics (CHs. 16 - 19), both of which are not dealth with indepth by comparable textbooks.
Author :Joao Manuel Lucas dos Santos Medeiros Publisher :Presses univ. de Louvain ISBN 13 :2930344237 Total Pages :4657 pages Book Rating :4.9/5 (33 download)
Book Synopsis Éducation in Endogenous Growth Models by : Joao Manuel Lucas dos Santos Medeiros
Download or read book Éducation in Endogenous Growth Models written by Joao Manuel Lucas dos Santos Medeiros and published by Presses univ. de Louvain. This book was released on 2003 with total page 4657 pages. Available in PDF, EPUB and Kindle. Book excerpt: This PhD thesis consists of four papers, whose major aim is to analyse the role of education in an endogenous growth setting. The theoretical framework uses computable OLG models, where the behaviour of individuals is modelled within a lifecycle framework. Firstly, in order to build computable general equilibrium models that are reliable for policy analysis, it is necessary to reproduce all major stylised facts that characterise lifecycle profiles, notably: i) the marked decline in consumption around retirement age; and, ii) in old age, financial wealth data drawn from surveys run down at a slower pace than that implied by usual formulations of the lifecycle theory of consumption. In the first paper, it is argued that a lifecycle framework can reproduce the above-mentioned facts if one assumes: i) uncertainty in the duration of life in a model with imperfect annuity markets; and, ii) existence of a “sufficiently” strong bequest motive. Secondly, it is shown that education choices can play a major role in dampening the negative impact on economic growth of a decline in fertility. In the second paper, it is found that the growth assumption (endogenous versus exogenous) does matter. In an endogenous growth model driven by education, a negative demographic shock represents an “investment opportunity” in education. The rise in education, together with the externalities in human capital formation bring about a permanent increase in labour productivity. Thirdly, in an OLG model with an externality in the education sector, it is important to investigate the set of policies that decentralises the social optimum, depending on some major model assumptions. In the third paper, using calibrations that assume altruism, the results suggest that optimal policies involve basically: a) an education subsidy; and, b) a PAYG pension. Fourthly, given the complementary of education and R&D, it is important to investigate if the adoption of optimal policies to correct a number of externalities causes a leverage effect on growth and welfare. The framework developed in the fourth paper provides for a numerical evaluation of the relative importance of two sources of inefficiency, namely: i) a “market-power” distortion, resulting from the mark-up pricing of intermediate goods; ii) versus the inefficiency in the allocation of resources caused by various “externalities”, affecting the education and R&D sectors. Overall, the results obtained highlight the importance of treating human capital as an endogenous variable.
Book Synopsis Intertemporal and Strategic Modelling in Economics by : Orlando Gomes
Download or read book Intertemporal and Strategic Modelling in Economics written by Orlando Gomes and published by Springer Nature. This book was released on 2022-08-17 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: This textbook introduces readers to essential tools, techniques and methods for intertemporal and strategic modeling in economics. It presents a variety of analytical models covering both dynamic processes and strategic interaction. Students will learn the basic mechanisms associated with the intertemporal approach, on the one hand, and game theory, i.e., the strategic approach, on the other. In addition, a wide range of applications are explored, including growth models, labor markets, international trade, and individual decision-making. Intended for upper undergraduate and graduate students in economics and related fields with a background in mathematics and calculus, this textbook provides a comprehensive introduction to economic modeling and its applications. By avoiding excessive formalism and exploring straightforward examples and applications, it is optimally suited for graduate courses in economics and finance.
Book Synopsis Economic Growth by : Alfonso Novales
Download or read book Economic Growth written by Alfonso Novales and published by Springer Science & Business Media. This book was released on 2008-10-06 with total page 543 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a book on deterministic and stochastic Growth Theory and the computational methods needed to produce numerical solutions. Exogenous and endogenous growth models are thoroughly reviewed. Special attention is paid to the use of these models for fiscal and monetary policy analysis. Modern Business Cycle Theory, the New Keynesian Macroeconomics, the class of Dynamic Stochastic General Equilibrium models, can be all considered as special cases of models of economic growth, and they can be analyzed by the theoretical and numerical procedures provided in the textbook. Analytical discussions are presented in full detail. The book is self contained and it is designed so that the student advances in the theoretical and the computational issues in parallel. EXCEL and Matlab files are provided on an accompanying website to illustrate theoretical results as well as to simulate the effects of economic policy interventions.
