When economic growth is less than exponential

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Standard

When economic growth is less than exponential. / Groth, Christian; Koch, Karl-Josef; Steger, Thomas.

I: Economic Theory, Bind 44, Nr. 2, 2010, s. 213-242.

Publikation: Bidrag til tidsskrift › Tidsskriftartikel › Forskning › fagfællebedømt

Harvard

Groth, C, Koch, K-J & Steger, T 2010, 'When economic growth is less than exponential', Economic Theory, bind 44, nr. 2, s. 213-242. https://doi.org/10.1007/s00199-009-0480-y

APA

Groth, C., Koch, K-J., & Steger, T. (2010). When economic growth is less than exponential. Economic Theory, 44(2), 213-242. https://doi.org/10.1007/s00199-009-0480-y

Vancouver

Groth C, Koch K-J, Steger T. When economic growth is less than exponential. Economic Theory. 2010;44(2):213-242. https://doi.org/10.1007/s00199-009-0480-y

Author

Groth, Christian ; Koch, Karl-Josef ; Steger, Thomas. / When economic growth is less than exponential. I: Economic Theory. 2010 ; Bind 44, Nr. 2. s. 213-242.

Bibtex

@article{3d1a4da007a011df825d000ea68e967b,
title = "When economic growth is less than exponential",
abstract = "This paper argues that growth theory needs a more general notion of {"}regularity{"} than that of exponential growth. We suggest that paths along which the rate of decline of the growth rate is proportional to the growth rate itself deserve attention. This opens up for considering a richer set of parameter combinations than in standard growth models. And it avoids the usual oversimplistic dichotomy of either exponential growth or stagnation. Allowing zero population growth in three different growth models (the Jones R&D-based model, a learning-by-doing model, and an embodied technical change model) serves as illustration that a continuum of {"}regular{"} growth processes fill the whole range between exponential growth and complete stagnation.",
keywords = "Faculty of Social Sciences, quasi-arithmetic growth, regular growth, semi-endogenous growth, knife-edge restrictions, learning by doing, embodied technical change",
author = "Christian Groth and Karl-Josef Koch and Thomas Steger",
note = "JEL Classification: O31, O40, O41",
year = "2010",
doi = "10.1007/s00199-009-0480-y",
language = "English",
volume = "44",
pages = "213--242",
journal = "Economic Theory",
issn = "0938-2259",
publisher = "Springer",
number = "2",

}

RIS

TY - JOUR

T1 - When economic growth is less than exponential

AU - Groth, Christian

AU - Koch, Karl-Josef

AU - Steger, Thomas

N1 - JEL Classification: O31, O40, O41

PY - 2010

Y1 - 2010

N2 - This paper argues that growth theory needs a more general notion of "regularity" than that of exponential growth. We suggest that paths along which the rate of decline of the growth rate is proportional to the growth rate itself deserve attention. This opens up for considering a richer set of parameter combinations than in standard growth models. And it avoids the usual oversimplistic dichotomy of either exponential growth or stagnation. Allowing zero population growth in three different growth models (the Jones R&D-based model, a learning-by-doing model, and an embodied technical change model) serves as illustration that a continuum of "regular" growth processes fill the whole range between exponential growth and complete stagnation.

AB - This paper argues that growth theory needs a more general notion of "regularity" than that of exponential growth. We suggest that paths along which the rate of decline of the growth rate is proportional to the growth rate itself deserve attention. This opens up for considering a richer set of parameter combinations than in standard growth models. And it avoids the usual oversimplistic dichotomy of either exponential growth or stagnation. Allowing zero population growth in three different growth models (the Jones R&D-based model, a learning-by-doing model, and an embodied technical change model) serves as illustration that a continuum of "regular" growth processes fill the whole range between exponential growth and complete stagnation.

KW - Faculty of Social Sciences

KW - quasi-arithmetic growth

KW - regular growth

KW - semi-endogenous growth

KW - knife-edge restrictions

KW - learning by doing

KW - embodied technical change

U2 - 10.1007/s00199-009-0480-y

DO - 10.1007/s00199-009-0480-y

M3 - Journal article

VL - 44

SP - 213

EP - 242

JO - Economic Theory

JF - Economic Theory

SN - 0938-2259

IS - 2

ER -

ID: 17146630