Introduction to Modern Economic Growth - Daron Acemoglu - Bok () | BokusThe Solow—Swan model is an economic model of long-run economic growth set within the framework of neoclassical economics. It attempts to explain long-run economic growth by looking at capital accumulation , labor or population growth , and increases in productivity , commonly referred to as technological progress. At its core is a neoclassical aggregate production function , often specified to be of Cobb—Douglas type, which enables the model "to make contact with microeconomics ". Mathematically, the Solow—Swan model is a nonlinear system consisting of a single ordinary differential equation that models the evolution of the per capita stock of capital. Due to its particularly attractive mathematical characteristics, Solow—Swan proved to be a convenient starting point for various extensions. For instance, in , David Cass and Tjalling Koopmans integrated Frank Ramsey's analysis of consumer optimization, thereby endogenizing the saving rate , to create what is now known as the Ramsey—Cass—Koopmans model. The neo-classical model was an extension to the Harrod—Domar model that included a new term: productivity growth.
Modern Economic Growth I
Endogenous growth theory
Many of our ebooks are available through library electronic resources including these platforms:. 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. 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. Innovative and authoritative, this book is likely to shape how economic growth is taught and learned for years to come. For Professors only: To access a complete solutions manual online, email us at: acemoglusolutions press. This book will be an inseparable and precious companion. The range is enormous, from the simplest model to the political economy of growth, and everything is traced back to fundamentals with great skill and care.
Endogenous growth theory holds that economic growth is primarily the result of endogenous and not external forces. The theory also focuses on positive externalities and spillover effects of a knowledge-based economy which will lead to economic development. The endogenous growth theory primarily holds that the long run growth rate of an economy depends on policy measures. For example, subsidies for research and development or education increase the growth rate in some endogenous growth models by increasing the incentive for innovation. In the mids, a group of growth theorists became increasingly dissatisfied with common accounts of exogenous factors determining long-run growth. They favored a model that replaced the exogenous growth variable unexplained technical progress with a model in which the key determinants of growth were explicit in the model.
This book will be an inseparable and precious companion Daron Acemoglu is the Charles P. Du kanske gillar. Econometrics Fumio Hayashi Inbunden. Permanent Record Edward Snowden Inbunden. Inbunden Engelska,
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Princeton University Press, Econometric Analysis serves as a bridge between an introduction to the field of econometrics and the professional literature for social scientists and other professionals in the field of social sciences, focusing on applied econometrics and theoretical background. This book provides a broad survey of the field of econometrics that Prentice Hall, Long known for careful development of complex theory, David Romer's Advanced Macroeconomics, 4e, continues its tradition as the standard text and the starting point for graduate macroeconomic courses and helps lay the groundwork for students to begin doing research in macroeconomics and monetary economics.