PL EN


2008 | 56 | 3 | 261-273
Article title

THE GENESIS OF THE NEOCLASSICAL MODELS OF GROWTH

Authors
Title variants
Languages of publication
CS
Abstracts
EN
The paper provides a Central European reader with some information concerning the knowledge in the field of economic growth. Information on neoclassical growth models (the 'Solow-Swan model' and the 'Ramsey model') is given. We present the production functions, the dynamic equations of the models, the steady state, and transitional dynamics. We discuss three variants of the introduction of the technological advance to the 'Solow-Swan model' and possible extensions of this model. The problematic behaviour of the neoclassical models in an open-economy setup is mentioned. The paper selects the 'AK model', which does not exhibit transitional dynamics, and the 'Uzawa-Lucas model', which on the contrary exhibits transitional dynamics, as examples of endogenous models. We discuss the modelling of the technological change and technological diffusion.
Contributors
  • P. Duczynski, Ekonomicky ustav SAV, Sancova 56, 811 05 Bratislava 1, Slovak Republic
References
Document Type
Publication order reference
Identifiers
CEJSH db identifier
08SKAAAA04718992
YADDA identifier
bwmeta1.element.96f44d01-d27f-37b4-8055-1134bb698024
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