Description 
1 online resource 
Series 
Routledge studies in economic theory, method and philosophy 
Contents 
Cover  Half Title  Series Page  Title Page  Copyright Page  Dedication  Table of Contents  List of figures  List of tables  Author Biographies  Introduction  1 R. M. Solow's inspirations  1.1 Introduction  1.2 Harrod's equilibrium  1.3 Domar's equilibrium  1.4 Kaldor's economic growth model  1.5 Principle of the original Solow economic growth model  1.6 Conclusions  2 The Solow model  2.1 Introduction  2.2 The Solow model with a neoclassical production function  2.3 Special cases  2.3.1 The CobbDouglas production function  2.3.2 The CES production function  2.4 Phelps' golden rules of capital accumulation  2.5 Conclusions  3 Generalizations of the Solow model (the MankiwRomerWeil and NonnemanVanhoudt models)  3.1 Introduction  3.2 The twocapital MankiwRomerWeil model (a model of human capital accumulation)  3.2.1 The model with a neoclassical production function  3.2.2 A model with the CobbDouglas production function  3.2.3 A model with the CES production function  3.2.4 Golden rules of accumulation in the MankiwRomerWeil model  3.3 The multicapital NonnemanVanhoudt model  3.3.1 The model with a neoclassical production function  3.3.2 A model with the CobbDouglas production function  3.3.3 A model with the CES production function  3.3.4 Golden rules of accumulation in the NonnemanVanhoudt model  3.4 Conclusions  4 Fiscal and monetary policy vs economic growth  4.1 Introduction  4.2 Fiscal policy in a MankiwRomerWeil model  4.2.1 The basic model  4.2.2 A model with public capital  4.3 Monetary rules in a DomarSolow model  4.4 Conclusions  5 Economic growth at returns to scale conditions  5.1 Introduction  5.2 Returns to scale in a singlecapital (Solow) model  5.3 Returns to scale in a twocapital (MankiwRomerWeil) model 

5.4 Returns to scale in a multiplecapital (NonnemanVanhoudt) model  5.5 Golden rules of capital accumulation at returns to scale conditions  5.6 Conclusions  6 Bipolar growth models with investment flows  6.1 Introduction  6.2 A model with exogenous investment flows  6.3 A model with investment flows conditional on capital productivity  6.4 Numerical simulations of economy growth trajectories  6.4.1 Exogenous investment flows  6.4.2 Investment flows depending on capital productivity  6.5 Conclusions  7 The gravity model of economic growth  7.1 Introduction  7.2 Assumptions of the model  7.3 A solution of the model  7.4 Golden rules of capital accumulation  7.4.1 Maximization of the geometric mean of longrun consumption per worker  7.4.2 Maximization of longrun consumption per worker in each of the economies  7.5 Conclusions  8 Solow equilibrium at alternative trajectories of the number of workers  8.1 Introduction  8.2 Assumptions about alternative trajectories of the number of workers  8.3 Analytical solutions  8.3.1 Growth paths at a logistic trajectory of the number of workers  8.3.2 Growth paths at a growth rate that drops with rising labour productivity  8.4 Numerical simulations  8.5 Conclusions  9 The Solow equilibrium at sinewave investment rates  9.1 Introduction  9.2 Assumptions of the model  9.3 Equilibrium in the model  9.4 Calibration of parameters and numerical simulations  9.5 Conclusions  10 SIRSolow model  10.1 Introduction  10.2 An epidemiologicaleconomic model  10.2.1 The epidemiological module  10.2.2 The economic module  10.3 Calibrated model parameters  10.3.1 Parameters of the epidemiological module  10.3.2 Parameters of the economic module  10.4 Scenarios and numerical simulation results  10.5 Conclusions  References  Index 
Summary 
"In 1956, Solow proposed a neoclassical growth model in opposition or as an alternative to Keynesian growth models. The Solow model of economic growth provided foundations for models embedded in the new theory of economic growth, known as the theory of endogenous growth, such as the renowned growth models developed by Paul M. Romer and Robert E. Lucas in the 1980s and 90s. The augmentations of the Solow model described in this book, excepting the Phelps golden rules of capital accumulation and the MankiwRomerWeil and NonnemanVanhoudt models, were developed by the authors over the last two decades. The book identifies six spheres of interest in modern macroeconomic theory: the impact of fiscal and monetary policy on growth; the effect of different returns to scale on production; the influence of mobility of factors of production among different countries on their development; the effect of population dynamics on growth; the periodicity of investment rates and their influence on growth; and the effect of exogenous shocks in the form of an epidemic. For each of these issues, the authors construct and analyze an appropriate growth model that focuses on the description of the specific macroeconomic problem. This book not only continues the neoclassical tradition of thought in economics focused on quantitative economic change but also, and to a significant extent, discusses alternative approaches to certain questions of economic growth, utilizing conclusions that can be drawn from the Solow model. It is a useful tool in analyzing contemporary issues related to growth" Provided by publisher 
Bibliography 
Includes bibliographical references and index 
Notes 
Description based on print version record and CIP data provided by publisher; resource not viewed 
Subject 
Solow, Robert M


Economic development  Mathematical models.


Solow growth model.


Macroeconomics.


Neoclassical school of economics.


BUSINESS & ECONOMICS / Economics / Macroeconomics


BUSINESS & ECONOMICS / Econometrics


BUSINESS & ECONOMICS / Economics / Theory


Macroeconomics  Mathematical models


Solow growth model

Form 
Electronic book

Author 
Tokarski, Tomasz, 1967 author.


Wisła, Rafał, author

LC no. 
2022021190 
ISBN 
9781003323792 

1003323790 

9781000774900 

1000774902 

9781000774818 

1000774813 
