When economic growth is less than exponential / Christian Groth, Karl-Josef Koch, Thomas M. Steger
VerfasserGroth, Christian In der Gemeinsamen Normdatei der DNB nachschlagen ; Koch, Karl-Josef In der Gemeinsamen Normdatei der DNB nachschlagen ; Steger, Thomas M. In der Gemeinsamen Normdatei der DNB nachschlagen
ErschienenSiegen : Universität Siegen, Fachbereich 5, June 2009
Elektronische Ressource
Umfang1 Online-Ressource (32 Seiten) : Diagramme
SerieVolkswirtschaftliche Diskussionsbeiträge ; No. 129-09
SchlagwörterEndogenes Wirtschaftswachstum In Wikipedia suchen nach Endogenes Wirtschaftswachstum / Wachstumsmodell In Wikipedia suchen nach Wachstumsmodell / Neokeynesianismus In Wikipedia suchen nach Neokeynesianismus / Wachstumstheorie In Wikipedia suchen nach Wachstumstheorie / Technischer Fortschritt In Wikipedia suchen nach Technischer Fortschritt / Multisektorales Modell In Wikipedia suchen nach Multisektorales Modell
URNurn:nbn:de:hbz:6:2-90838 Persistent Identifier (URN)
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When economic growth is less than exponential [0.3 mb]

This paper argues that growth theory needs a more general notion of regularityʺ than that of exponential growth. We suggest that paths along which the rate of decline of the growth rate is proportional to the growth rate itself deserve attention. This opens up for considering a richer set of parameter combinations than in standard growth models. And it avoids the usual oversimplistic dichotomy of either exponential growth or stagnation. Allowing zero population growth in three different growth models (the Jones R&D-based model, a learning-by-doing model, and an embodied technical change model) serves as illustrations that a continuum of regularʺ growth processes fill the whole range between exponential growth and complete stagnation. -- Quasi-arithmetic growth ; Regular growth ; Semi-endogenous growth ; Knife-edge restrictions ; Learning by doing ; Embodied technical change