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Growth Models with Exogenous Saving Rates
Growth Models with Consumer Optimization
The Open Economy Finite Horizons and Adjustment
9 other sections not shown
adjustment costs aggregate assume behavior capita GDP capita growth rate capita income capital stock Chapter Cobb-Douglas column conditional convergence constant consumption corresponds countries curve differential equation diminishing returns effect eigenvalues endogenous growth equals equilibrium estimated coefficient Figure finite-horizon given gross investment Hence higher households human capital implies increase initial innovation input interest rate intermediate labor learning-by-doing linear locus marginal product migration rate monopoly monotonically negative neoclassical neoclassical growth model optimization output p-value parameters Pareto optimal path percent phase diagram physical capital population positive prefectures product of capital production function quantity Ramsey model rate of return ratio real per capita regions regressions relation returns to scale rises saving rate sector shadow price shown in Eq shows slope social planner Solow-Swan model speed of convergence steady steady-state value subperiods substitute technological progress tends term transitional dynamics transversality condition unit variables wage rate