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Dynamics of Endogenous Economic Growth: A Case Study of the Romer Model Vol: 257


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Product Details
Format:
Hardback
ISBN:
9780444512253
Published:
15 Apr 2003
Publisher:
Emerald Group Publishing Limited
Dimensions:
508 pages - 156 x 234 x 28mm
Series:
Contributions to Economic Analysis

Categories:

This book is concerned with the methods by which the dynamics of endogenous economic growth systems may be analysed and numerically computed, and with the validation of such numerical computations through qualitative economic reasoning. The methods comprise linearization, phase-space analysis and a variety of numerical integration techniques. In particular, the book provides a detailed examination of the transitional dynamics (the movement from some current state towards a steady-state equilibrium) of the influential endogenous growth model from Paul Romer's 1990 Journal of Political Economy article: "Endogenous Technological Change".
The Romer model - development of the dynamic system; dynamic behavior of the system; linearisation, phase space analysis, and development of an abridged model; numerical integration; economic welfare and policy issues; concluding remarks and policy implications.

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