Economic GrowthThe long-awaited second edition of an important textbook on economicgrowth--a major revision incorporating the most recent work on the subject. |
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Page 33
... input or relatively less labor input , cases referred to as capital - saving or labor - saving technological progress , respectively . Inventions that do not save relatively more of either input are called neutral , or unbiased . The ...
... input or relatively less labor input , cases referred to as capital - saving or labor - saving technological progress , respectively . Inventions that do not save relatively more of either input are called neutral , or unbiased . The ...
Page 67
... input , and make rental payments for cap- ital input . Each firm has access to the production technology , Y = F ( K , L , t ) , where Y is the flow of output , K is capital input ( in units of commodities ) , L is labor input ( in ...
... input , and make rental payments for cap- ital input . Each firm has access to the production technology , Y = F ( K , L , t ) , where Y is the flow of output , K is capital input ( in units of commodities ) , L is labor input ( in ...
Page 349
... input is the weighted sum over all categories , where the weights are the relative wage rates . For a given total of worker hours , the quality of the labor force improves — and , hence , the measured labor input increases — if workers ...
... input is the weighted sum over all categories , where the weights are the relative wage rates . For a given total of worker hours , the quality of the labor force improves — and , hence , the measured labor input increases — if workers ...
Other editions - View all
Economic Growth Robert J. Barro,Barro Robert J Sala-I-Martin Xavier,Xavier Sala-i-Martin No preview available - 2003 |
Common terms and phrases
adjustment costs aggregate assume average behavior capita GDP capita growth rate capita income capital stock Chapter Cobb-Douglas column conditional convergence constant consumption corresponds countries differential equation diminishing returns effect eigenvalues equals estimated coefficient FIGURE finite-horizon first-order conditions given Hence higher households human capital implies increase initial innovation input interest rate intermediate l'Hôpital's rule labor linear locus log(GDP marginal product migration rate monopoly monotonically negative neoclassical neoclassical growth model optimization output p-value parameters Pareto optimal path 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 rises saving rate sector shadow price shown in Eq shows social planner Solow-Swan model speed of convergence steady steady-state value subperiods technological progress tends term transitional dynamics transversality condition unit variables wage rate y₁