Rethinking the Concept of Long-Run Economic Growth

This paper argues that growth theory needs a more general “regularity” concept than that of exponential growth. This opens up for considering a richer set of parameter combinations than in standard growth models. Allowing zero population growth in the Jones (1995) model serves as our illustration of the usefulness of a general concept of “regular growth”.

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Year of publication:	2006-03
Authors:	Groth, Christian ; Koch, Karl-Josef ; Steger, Thomas M.
Institutions:	Økonomisk Institut, Københavns Universitet
Subject:	exponential growth \| arithmetic growth \| regular growth \| semi-endogenous growth \| knife-edge restrictions

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Extent:	application/pdf
Series:	Discussion Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 06-06 8 pages
Classification:	O31 - Innovation and Invention: Processes and Incentives ; O40 - Economic Growth and Aggregate Productivity. General ; O41 - One, Two, and Multisector Growth Models
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005749580