Introduction to the Theory of Economic Growth

ISBN-13: 9783540119432 / Angielski / Miękka / 1982 / 350 str.

R. Ramanathan

Opis

This book is an outgrowth of years of teaching and doing re search at the University of California, San Diego (UCSD), in the area of economic growth. Although there have been several books on this topic published in the last eight years, I have been dis satisfied with them for several reasons. First, books such as those by Wan, Burmeister and Dobell are uneven in their technical difficulty and, while they are excellent, are apparently difficult for first year graduate students and advanced undergraduates. Solow's expository book, on the other hand, is at the other ex treme. Furthermore, many of the books seem to be aimed at the authors' peers rather than the students. My primary objective in writing this book is to bridge this gap and to pitch, very appro priately I hope, at the level of a typical student enrolled in a beginning course in growth theory. Secondly, almost all the growth models in the literature can be recast in a single analyti cal framework. Although the various authors have not written so as to conform to any particular pattern, it -is the function of a textbook writer to identify such a pattern, if it exists, and pre sent the theory in that framework. Many authors make implicit as sumptions about their models which are either never specified or sometimes specified in footnotes."

Spis treści

1. Introduction.- 2. Review of Production functions and their properties.- 2.1 Production with Fixed Coefficients.- 2.2 Substitution Between Capital and Labor.- References.- Exercises.- 3. Basic Neo-Classical growth models.- 3.1 The Harrod-Domar Model.- 3.2 The Solow-Swan Model.- 3.3 Summary.- References.- Exercises.- Appendix: Differential Equations.- 4. Technical Progress.- 4.1 Neutral and Non-Neutral Technical Change.- 4.2 Endogenous Technical Progress.- 4.3 Induced Bias in Technical Change.- 4.4 Embodied Technical Progress: Vintage Models.- 4.5 Measurement of Technical Change.- 4.6 Summary.- References.- Exercises.- 5. Money and economic growth.- 5.1 Tobin’s Model.- 5.2 Money as a Consumer Good.- 5.3 Money as a Producer Good.- 5.4 The Keynes-Wicksell Approach.- 5.5 A Synthesis of Neo-Classical and Keynes-Wicksell Models.- 5.6 Summary.- References.- Exercises.- 6. Neo-Classical models with two income classes.- 6.1 Different Saving Propensities for Workers and Firms.- 6.2 Wage Earners Receiving Dividend Income Also.- 6.3 The Pasinetti Paradox in a Two-Class Monetary Growth Model.- 6.4 Summary.- References.- Exercises.- 7. Cambridge growth models.- 7.1 A Simple Kaldorian Model.- 7.2 A Neo-Keynesian Model with Pasinetti Saving Behavior.- 7.3 The Technical Progress Function.- 7.4 Robinson’s Criticisms.- 7.5 Summary.- References.- Exercises.- 8. The speed of adjustment in growth models.- 8.1 The Solow-Swan Model.- 8.2 A Model With Unemployment.- 8.3 Other Models.- References.- Exercises.- 9. Optimal Growth.- 9.1 Inter-temporal Optimization.- 9.2 Economic Interpretations.- 9.3 Phase Diagram Analysis.- References.- Exercises.- 10. Two sector growth models.- 10.1 The Static Two-Sector Model.- 10.2 The Dynamic Two-Sector Model.- 10.3 Stability of the Long-run Equilibrium.- 10.4 Extension to the Case of Variable Savings Ratio.- References.- Exercises.- 11. International Trade and Economic Growth.- 11.1 A Static Two-Sector Trade Model.- 11.2 A Dynamic Two-Sector Trade Model.- 11.3 A Monetary Growth Model of an Open Economy.- References.- Exercises.- Review Questions.