As economic phenomena become increasingly complex, the demands on models to reflect this complexity also increase. Economic growth, for example, which depends on a variety of factors, is such a complex phenomenon. Especially the relevance of human capital development for modern service societies is a significant growth factor. This is, however, considered only in few discussions. In order to re...

This paper presents a computable general equilibrium model of endogenous (stochastic) growth and cycles that can account for two key features of the aggregate data: balanced growth in the long run and business cycles in the short run. The model is built on Schumpeter’s idea that economic development is the consequence of the periodic arrival of innovations. There is growth because each subseque...

â  â â â â â  â  â  abstract: â  there is a significant relationship between economic growth and the degree of urban concentration, as measured by primacy or the share of the largest city in an urban system. in accordance to urban economic theories, there is an inverse-u shape relationship between urban concentration –urban primacy- and economic growth. that is, as economy grows, urban concen...

This paper explores links and gaps between the popular debate over sustainability, neoclassical and endogenous growth theory, and the “natural capitalism” argument. For more information, contact Daphne Greenwood at [email protected] 719-262-4031 In this paper, I explore the links between growth theory, the sustainability debate, and the “natural capitalism” argument. I also point out areas wher...

Society is facing significant environmental challenges. The effects of climate change, biodiversity loss and degradation are being increasingly felt worldwide. In recent years, researchers have attempted to adapt neoclassical endogenous growth theory account for constraints imposed by scarce natural resources. this article, we review where, how, tend incorporate resources capital into theory. W...