The purpose of this paper is to provide an exact algebraic solution to a fully specified Romer endogenous growth model. The proposed model has three main virtues. First, taking Romer's [1986] model as the starting point, we build a completely and explicitly micro-founded competitive general...

This paper studies an endogenous growth economy with two sectors owned by a life-time utility maximizing representative household, one sector producing consumption goods and the other sector producing knowledge and technology. The stationary Euler conditions are used to derived relationships...

This paper investigates the growth impact of Information and Communication Technologies (ICT) in an economy consisting of three sectors: ICT-producing, ICT-using, and non-ICT-using. The ICT progress causes falling prices of the consumption and intermediates produced by the ICT-using sector,...

Paper introduces mathematical models describing long-time effects of real savings on economic growth. Models are built for single-product and multiple-product economy with market forces presented through the system of ordinary differential equations. Modeling results show a limited long-run...