Rethinking the Concept of Long-Run Economic Growth

Christian Groth; Karl-Josef Koch; Thomas Michael Steger

Rethinking the Concept of Long-Run Economic Growth

Christian Groth, Karl-Josef Koch, Thomas Michael Steger

Økonomisk Institut

Abstract

This paper argues that growth theory needs a more general "regularity" concept than that of exponential growth. This offers the possibility of considering a richer set of parameter combinations than in standard growth models. Allowing zero population growth in the Jones (1995) model serves as our illustration of the usefulness of a general concept of "regular growth"

Originalsprog	Engelsk
Udgivelsessted	Munich
Udgiver	CESifo
Antal sider	11
Status	Udgivet - 2006

Emneord

Det Samfundsvidenskabelige Fakultet

FN’s Verdensmål

Dette resultat bidrager til følgende verdensmål

Adgang til dokumentet

http://www.cesifo-group.de/~DocCIDL/cesifo1_wp1701.pdf

Citationsformater

@techreport{d9bb61b09bdf11dbbee902004c4f4f50,

title = "Rethinking the Concept of Long-Run Economic Growth",

abstract = "This paper argues that growth theory needs a more general {"}regularity{"} concept than that of exponential growth. This offers the possibility of considering a richer set of parameter combinations than in standard growth models. Allowing zero population growth in the Jones (1995) model serves as our illustration of the usefulness of a general concept of {"}regular growth{"}",

keywords = "Faculty of Social Sciences, exponential growth, knife-edge restrictions, semi-endogenous growth, arithmetic growth",

author = "Christian Groth and Karl-Josef Koch and Steger, {Thomas Michael}",

note = "JEL Classification: O31, O40, O41",

year = "2006",

language = "English",

publisher = "CESifo",

type = "WorkingPaper",

institution = "CESifo",

}

TY - UNPB

T1 - Rethinking the Concept of Long-Run Economic Growth

AU - Groth, Christian

AU - Koch, Karl-Josef

AU - Steger, Thomas Michael

N1 - JEL Classification: O31, O40, O41

PY - 2006

Y1 - 2006

N2 - This paper argues that growth theory needs a more general "regularity" concept than that of exponential growth. This offers the possibility of considering a richer set of parameter combinations than in standard growth models. Allowing zero population growth in the Jones (1995) model serves as our illustration of the usefulness of a general concept of "regular growth"

AB - This paper argues that growth theory needs a more general "regularity" concept than that of exponential growth. This offers the possibility of considering a richer set of parameter combinations than in standard growth models. Allowing zero population growth in the Jones (1995) model serves as our illustration of the usefulness of a general concept of "regular growth"

KW - Faculty of Social Sciences

KW - exponential growth

KW - knife-edge restrictions

KW - semi-endogenous growth

KW - arithmetic growth

M3 - Working paper

BT - Rethinking the Concept of Long-Run Economic Growth

PB - CESifo

CY - Munich

ER -

Rethinking the Concept of Long-Run Economic Growth

Abstract

Emneord

FN’s Verdensmål

Adgang til dokumentet

Fingeraftryk

Citationsformater