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

Publikation: Working paper › Forskning

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

Bibliografisk note

JEL Classification: O31, O40, O41

Emneord

Det Samfundsvidenskabelige Fakultet

Adgang til dokumentet

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

Citationsformater

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PY - 2006

Y1 - 2006

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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

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KW - knife-edge restrictions

KW - semi-endogenous growth

KW - arithmetic growth

M3 - Working paper

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PB - CESifo

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