A Localization of Solow Growth Model with Labor Growth Pattern in China
نویسندگان
چکیده
منابع مشابه
Solow ’ s Model of Economic Growth
Robert Solow received the 1987 Nobel Prize in economics for developing the leading model of economic growth. The model is based on the premise that cross-country differences in income per person are the result (primarily) of differences in national savings rates (savings finances increases in the capital stock). We illustrate its properties and show how it can be used as a tool for exploring th...
متن کاملRandom Fixed Points in a Stochastic Solow Growth Model
This paper presents a complete analysis of a stochastic version of the Solow growth model in which all parameters are ergodic random variables. Applying random dynamical systems theory, we prove that the dynamics and, in particular, the long-run behavior is uniquely determined by a globally attracting stable random xed point. We also discuss the relation of our approach to that of ergodic Marko...
متن کاملSolow (1956) as a Model of Cross-Country Growth Dynamics
Despite the widespread popularity of the Solow growth model, much of the recent empirical work based on the classic framework misrepresents a crucial feature of the model. Namely, the growth rate of technological progress, assumed to be exogenous in the Solow model, is often identified as being constant across countries. This simplification of the behavior of technological progess runs counter ...
متن کاملThe Solow Model in the Empirics of Growth and Trade*
Translated to a cross-country context, the Solow model (Solow, 1956) predicts that international differences in steady state output per person are due to international differences in technology for a constant capital output ratio. However, most of the cross-country growth literature that refers to the Solow model has employed a specification where steady state differences in output per person a...
متن کاملIntermediate Macroeconomics: Economic Growth and the Solow Model
ing from money, meaning everything is denominated in units of goods, e.g. fruit). Total cost is the wage bill plus the capital bill. Let wt be the real wage rate – it is the number of goods the firm must pay each unit of labor. Let Rt be the real “rental rate” – it is the number of goods the firm must give up to lease a unit of capital. The firm is a price-taker, so it takes these as given. Pro...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Technology and Investment
سال: 2013
ISSN: 2150-4059,2150-4067
DOI: 10.4236/ti.2013.41b005