Stability in Keynesian and neoclassical growth models: A comment on Kuipers

De Economist ◽  
1982 ◽  
Vol 130 (1) ◽  
pp. 101-130 ◽  
Author(s):  
C. Van Ewijk
Keyword(s):  
Growth Models ◽  
Neoclassical Growth

The adjustment speed of neoclassical growth models

1972 ◽  
Vol 4 (3) ◽  
pp. 552-556 ◽  
Author(s):  
R.L Williams ◽  
R.L Crouch
Keyword(s):  
Growth Models ◽  
Adjustment Speed ◽  
Neoclassical Growth

scholarly journals Intergenerational Altruism and Neoclassical Growth Models

2004 ◽  
Author(s):  
Philippe Michel ◽  
Emmanuel Thibault ◽  
Jean-Pierre Vidal
Keyword(s):  
Growth Models ◽  
Intergenerational Altruism ◽  
Neoclassical Growth

scholarly journals CONVERGÊNCIA E DIVERGÊNCIA NOS NÍVEIS DE RENDA PER CAPITA: UMA CRÍTICA À APLICABILIDADE DOS MODELOS NEOCLÁSSICOS DE CRESCIMENTO ECONÔMICO

2004 ◽  
Vol 30 (2) ◽  
Author(s):  
Daniel Almeida Fonseca ◽  
José Luís Oreiro
Keyword(s):  
United States ◽  
World War Ii ◽  
Capita Income ◽  
Growth Models ◽  
The United States ◽  
Per Capita Income ◽  
World War ◽  
Catch Up ◽  
Per Capita ◽  
Neoclassical Growth

O artigo pretende analisar em que medida os modelos neoclássicos de crescimento econômico – mais especificamente, o modelo de Solow (1956, 1957), o modelo de Mankiw, Romer e Weill (1992) e o modelo de Romer (1990) – são capazes de explicar a divergência global nos níveis de renda per capita nos últimos dois séculos e a convergência nos níveis de renda per capita e o catch-up ocorridos entre Europa e Estados Unidos no período do Pós Segunda Guerra Mundial. Com efeito, trata-se de uma confrontação entre teoria e prática, de modo a analisar de que forma tais modelos explicam (ou não) os fatos supramencionados. No trabalho, demonstra-se que a ocorrência dos fatos anteriormente mencionados deveu-se fundamentalmente às diferenças do progresso técnico existente entre as economias (no caso da divergência) e à redução de tais disparidades entre os Estados Unidos e a Europa no período de tempo imediatamente após a 2.a Guerra Mundial (no caso da convergência e do catch-up). Na verdade, tenta-se demonstrar que os modelos apresentados não conseguem explicar satisfatoriamente os fatos ocorridos, sendo válidos apenas em casos específicos. O que o artigo se propõe a expor é que a realidade do crescimento econômico mundial é bastante diferente das conclusões dos modelos neoclássicos considerados. Abstract This work intends to analyze in which way the neoclassical growth models – more specifically, Solow (1956, 1957), Mankiw, Romer and Weill (1992) and Romer (1990) – are capable to explain the global divergence on the levels of per capita income over the last two centuries and the convergence on the levels of per capita income and the catch-up occurred between Europe and the United States after World War II. In fact, it is a confrontation between theory and practice, in order to view in which way these models explain (or not) the above-mentioned facts. During the present work, we demonstrate that the occurrence of these facts were mainly caused by differences on technological progress between economies (case of divergence) and the reduction of such disparities between the United States and Europe on the period of time immediately after World War II (case of convergence and catch-up). In fact, we try to demonstrate that these models are incapable to give a satisfactory explanation to the occurred facts, being only valid on specific cases. The work tries to propose that the reality of global economic growth differs considerably from the conclusions of the considered neoclassical growth models.

scholarly journals Public debt and economic growth: what do neoclassical growth models teach us?

2018 ◽  
Vol 51 (29) ◽  
pp. 3104-3121 ◽  
Author(s):  
Ákos Dombi ◽  
István Dedák
Keyword(s):  
Economic Growth ◽  
Public Debt ◽  
Growth Models ◽  
Neoclassical Growth

INDETERMINACY AND INVESTMENT ADJUSTMENT COSTS: AN ANALYTIC RESULT

2003 ◽  
Vol 7 (3) ◽  
pp. 394-406 ◽  
Author(s):  
Jinill Kim
Keyword(s):  
Growth Models ◽  
Adjustment Costs ◽  
Large Degree ◽  
Increasing Returns ◽  
Neoclassical Growth

It has been widely known that neoclassical growth models with sufficient increasing returns in production may feature indeterminacy. This note analytically shows that investment adjustment costs increase the required degree of increasing returns for indeterminacy to arise. Under empirically plausible levels of investment adjustment costs, we need an implausibly large degree of increasing returns to generate indeterminacy.

Sign in / Sign up

Export Citation Format

Share Document