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role in neoclassical growth theory. We show that (i) many neoclassical growth theories can be classified as "theories of …
Persistent link: https://www.econbiz.de/10013058068
The following article deals with the basic Solow model of economic growth for the states of the EU-28 and empirically confirms its conclusions. Based on growth accounting, and by analyzing different determinants of the respective steady states of each country, we confirm the importance of...
Persistent link: https://www.econbiz.de/10014547104
Growth theory is supposed to enhance welfare of the population by raising their per capita output, income and … consumption. But, if for that purpose population is reduced, such theory is anti-growth. This paper proves that Solow's growth … theory is anti-growth, and that his use of population growth rate destroys his own theory …
Persistent link: https://www.econbiz.de/10012997766
stagnation. The reason is that automation suppresses wages, which are the only source of investment in the overlapping …
Persistent link: https://www.econbiz.de/10011620627
The aim of this research is to build on a theory for explaining economic development in a (neoclassical) growth model …
Persistent link: https://www.econbiz.de/10012130325
We study the effects of time-using rent-seeking activities on the macroeconomic allocation and the economic growth rate. We formulate a highly stylized three-sector general equilibrium model with overlapping generations of individuals. The production side features one sector producing the...
Persistent link: https://www.econbiz.de/10014431164
Prettner (2019) studies the implications of automation for economic growth and the labor share in a variant of the Solow-Swan model. The aggregate production function allows for two types of capital, traditional and automation capital. Traditional capital and labor are imperfect substitutes...
Persistent link: https://www.econbiz.de/10012031062
that (i) "openness" enhances growth by increasing a country's rate of investment, and (ii) variables related to equipment … investment are robustly and strongly correlated with growth rates. This paper proposes a microeconomic mechanism for the link … between openness, equipment investment and growth. A dynamic general equilibrium model is developed where countries that face …
Persistent link: https://www.econbiz.de/10014144885
-accounting model. What they call investment-specific technological change is shown to be closely related to the more familiar concept …
Persistent link: https://www.econbiz.de/10014069393
that (i) "openness" enhances growth by increasing a country's rate of investment, and (ii) variables related to equipment … investment are robustly and strongly correlated with growth rates. This paper proposes a microeconomic mechanism for the link … between openness, equipment investment and growth. A dynamic general equilibrium model is developed where countries that face …
Persistent link: https://www.econbiz.de/10014072808