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Economic Growth and Macrodynamics Dynamics: Recent Developments in Economic Theory

Author: Steve Dowrick; Rohan Pitchford; Stephen J Turnovsky
Publisher: Cambridge University Press 2004.
Edition/Format:   eBook : Document : English
Database:WorldCat
Summary:
The development of the endogenous growth model rekindled interest in growth theory. In contrast to the neo-classical model, long-run endogenous growth emerged as an equilibrium outcome, reflecting the behavior of optimizing agents in the economy. This book brings together a number of contributions in growth theory and macroeconomic dynamics, reflecting these recent developments and the ongoing debate over the  Read more...
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Details

Genre/Form: Electronic books
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Steve Dowrick; Rohan Pitchford; Stephen J Turnovsky
ISBN: 1280477970 9781280477973
OCLC Number: 814455815
Description: 1 online resource (201 p.)

Abstract:

The development of the endogenous growth model rekindled interest in growth theory. In contrast to the neo-classical model, long-run endogenous growth emerged as an equilibrium outcome, reflecting the behavior of optimizing agents in the economy. This book brings together a number of contributions in growth theory and macroeconomic dynamics, reflecting these recent developments and the ongoing debate over the relative merits of neo-classical and endogenous growth models. It focuses on the emergence of three important aspects: First, it develops growth models that extend the underlying theory in different directions. Second, it addresses one of the concerns of the recent literature on growth and dynamics: the statistical properties of underlying data and the effort to ensure that growth models are consistent with empirical evidence. Third, it discusses the increasingly international focus of macrodynamics and growth theory, an inevitable consequence of the integration of the world economy.

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