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by Wei-Bin Zhang
Economic Growth Theory
Cover
Half Title
Title
Copyright
Contents
List of Figures
List of Tables
Preface
Acknowledgements
1 Economic Growth and Growth Theory
1.1 Economic Growth
1.2 Economic Growth Theory
1.3 The Structure of the Book
2 The One-Sector Growth (OSG) Model
2.1 Behavior of Producers
2.2 Behavior of Consumers
2.3 On the Generalized Keynesian Consumption Function
2.4 Dynamics in Capital-Labor Ratio
2.5 Existence of a Stable Steady State
2.6 Productivity Improvement, Population Growth and the APS
2.7 The Dynamics with the Cobb-Douglas Production Function
2.8 The OSG Model with the CES Production Function
2.9 The OSG Model with the Leontief Production Function
2.10 The OSG Model with General Utility Functions
2.11 The OSG Model with Preference Dynamics
2.12 The OSG Model in Discrete Time
2.13 On the OSG Model
Appendix
A.2.1 Proving Theorem 2.4.1
A.2.2 The General OSG Model in Discrete Time
3 Traditional Growth Theories and the OSG Model
3.1 The Harrod-Domar Model
3.2 The Solow Model and the OSG Model
3.3 The Life Cycle Hypothesis and the Generalized Keynesian Consumption Function in the OSG Model
3.4 The Permanent Income Hypothesis and the Generalized Keynesian Consumption Function
3.5 The Ramsey Growth Model
3.6 The Ramsey Model and the OSG Model
3.7 Poverty Traps Generated in the Solow Model
3.8 On the Utility Function in the OSG Model
Appendix
A.3.1 The Golden Rule of Capital Accumulation in the Solow Model
4 Some Extensions of the OSG Model
4.1 Exogenous Technological Change
4.2 Endogenous Time and the OSG Model
4.3 Simulating Evolution of Time Value and Distribution
4.4 Public Goods and Returns to Scale
4.5 Home Production in the OSG Model
4.6 Environment and Growth
4.7 Population and Capital Accumulation
4.8 Money and Economic Growth
Appendix
A.4.1 The General OSG model with Endogenous Labor
A.4.2 Proving Lemma 4.6.1
5 Income Distribution and Growth
5.1 Growth with Income Transfers
5.2 Does Inequality Accelerate Growth?
5.3 Properties of the Dynamic System
5.4 The Distribution Policy and the Equilibrium
5.5 Human Capital and the Distribution Policy
5.6 Dynamics of the Loren Curve and the Kuznets Curve
5.7 Endogenous Time in the Two-Group Model
5.8 The OSG Model with Multiple Consumers
5.9 Simulating the Three-Group OSG Model
5.10 The OSG Model with Sexual Division of Labor
5.11 On Modeling Group Differences
Appendix
A.5.1 Stability Conditions in Section 5.3
6 Structural Changes and Development
6.1 The Uzawa Two-Sector Model
6.2 Refitting the Uzawa Model
6.3 Behavior of the Two-Sector Model
6.4 A Generalization of the Ricardian Growth Model
6.5 Discussion on Growth Rates
6.6 Simulating Economic Structural Change
6.7 The Propensity to Hold Wealth and Economic Structure
6.8 Engel's Law and Structural Change
6.9 A Two-Capital Growth Model
6.10 Economic Evolution with Multiple Sectors
Appendix
A.6.1 Proving Proposition 6.4.1
7 Growth, Unemployment and Welfare
7.1 The Welfare Economy with Unemployment
7.2 Dynamics in Capital-Worker Ratios
7.3 Equilibrium of the Economy
7.4 The Unemployment Policy
7.5 The Efficiency Wage Theory
7.6 Applying the Efficiency Wage Theory to the OSG Model
7.7 Other Causes of Unemployment
Appendix
A.7.1 A General OSG Model with the Efficiency Wage Theory
8 Learning by Doing, Education and Learning by Leisure
8.1 The AK-OSG Model with Learning by Doing
8.2 The AK-Ramsey Model
8.3 The Lucas Growth Model with Education
8.4 Growth with Multiple Ways of Learning
8.5 Growth Rates and the Education Policy
8.6 Lower Propensity to Save and Higher Growth Rates
8.7 More Than 'All Work and No Play Make Jack a Dull Boy'
8.8 The Dynamic Properties of the Model
8.9 Leisure and the Equilibrium Economic Structure
8.10 Growth, Human Capital and Unemployment
8.11 Human Capital and Economic Development
Appendix
A.8.1 Endogenous Education in the OSG Model
A.8.2 The Dynamics in Terms of K(t) and H(t)
A.8.3 Proving Proposition 8.8.1
A.8.4 Growth with Human Capital and Unemployment
9 Research and Learning by Doing
9.1 Growth with Learning by Doing and Research
9.2 Growth Rates and the Research Policy
9.3 Intermezzo for Multiple Equilibria and Poverty Traps
9.4 Equilibrium of the Growth Model with Knowledge
9.5 The Policy on Scientists' Payment
9.6 The Job Amenities and Economic Structure
9.7 Knowledge Accumulation and Economic Structure
9.8 Economic Growth with Knowledge and Multiple Groups
9.9 On Growth with Endogenous Knowledge
10 New Growth Theories and Monopolistic Competition
10.1 Development with Monopolistic Competition
10.2 Product Variety and Growth
10.3 Variety of Consumer Goods and Growth
10.4 The Schumpeterian Creative Destruction
10.5 Growth with Improvements in Quality of Products
10.6 Learning by Doing and Research
10.7 The New Growth Theory and Linearized Knowledge Growth
11 Complexity of Economic Growth
11.1 Preference Change with the OSG Model
11.2 Economic Chaos as Conclusion
Bibliography
Index
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Prev
Previous Chapter
Copyright
Next
Next Chapter
List of Figures
Contents
List of Figures
List of Tables
Preface
Acknowledgements
1 Economic Growth and Growth Theory
1.1 Economic Growth
1.2 Economic Growth Theory
1.3 The Structure of the Book
2 The One-Sector Growth (OSG) Model
2.1 Behavior of Producers
2.2 Behavior of Consumers
2.3 On the Generalized Keynesian Consumption Function
2.4 Dynamics in Capital-Labor Ratio
2.5 Existence of a Stable Steady State
2.6 Productivity Improvement, Population Growth and the APS
2.7 The Dynamics with the Cobb-Douglas Production Function
2.8 The OSG Model with the CES Production Function
2.9 The OSG Model with the Leontief Production Function
2.10 The OSG Model with General Utility Functions
2.11 The OSG Model with Preference Dynamics
2.12 The OSG Model in Discrete Time
2.13 On the OSG Model
Appendix
A.2.1 Proving Theorem 2.4.1
A.2.2 The General OSG Model in Discrete Time
3 Traditional Growth Theories and the OSG Model
3.1 The Harrod-Domar Model
3.2 The Solow Model and the OSG Model
3.3 The Life Cycle Hypothesis and the Generalized Keynesian Consumption Function in the OSG Model
3.4 The Permanent Income Hypothesis and the Generalized Keynesian Consumption Function
3.5 The Ramsey Growth Model
3.6 The Ramsey Model and the OSG Model
3.7 Poverty Traps Generated in the Solow Model
3.8 On the Utility Function in the OSG Model
Appendix
A.3.1 The Golden Rule of Capital Accumulation in the Solow Model
4 Some Extensions of the OSG Model
4.1 Exogenous Technological Change
4.2 Endogenous Time and the OSG Model
4.3 Simulating Evolution of Time Value and Distribution
4.4 Public Goods and Returns to Scale
4.5 Home Production in the OSG Model
4.6 Environment and Growth
4.7 Population and Capital Accumulation
4.8 Money and Economic Growth
Appendix
A.4.1 The General OSG model with Endogenous Labor
A.4.2 Proving Lemma 4.6.1
5 Income Distribution and Growth
5.1 Growth with Income Transfers
5.2 Does Inequality Accelerate Growth?
5.3 Properties of the Dynamic System
5.4 The Distribution Policy and the Equilibrium
5.5 Human Capital and the Distribution Policy
5.6 Dynamics of the Loren Curve and the Kuznets Curve
5.7 Endogenous Time in the Two-Group Model
5.8 The OSG Model with Multiple Consumers
5.9 Simulating the Three-Group OSG Model
5.10 The OSG Model with Sexual Division of Labor
5.11 On Modeling Group Differences
Appendix
A.5.1 Stability Conditions in Section 5.3
6 Structural Changes and Development
6.1 The Uzawa Two-Sector Model
6.2 Refitting the Uzawa Model
6.3 Behavior of the Two-Sector Model
6.4 A Generalization of the Ricardian Growth Model
6.5 Discussion on Growth Rates
6.6 Simulating Economic Structural Change
6.7 The Propensity to Hold Wealth and Economic Structure
6.8 Engel's Law and Structural Change
6.9 A Two-Capital Growth Model
6.10 Economic Evolution with Multiple Sectors
Appendix
A.6.1 Proving Proposition 6.4.1
7 Growth, Unemployment and Welfare
7.1 The Welfare Economy with Unemployment
7.2 Dynamics in Capital-Worker Ratios
7.3 Equilibrium of the Economy
7.4 The Unemployment Policy
7.5 The Efficiency Wage Theory
7.6 Applying the Efficiency Wage Theory to the OSG Model
7.7 Other Causes of Unemployment
Appendix
A.7.1 A General OSG Model with the Efficiency Wage Theory
8 Learning by Doing, Education and Learning by Leisure
8.1 The AK-OSG Model with Learning by Doing
8.2 The AK-Ramsey Model
8.3 The Lucas Growth Model with Education
8.4 Growth with Multiple Ways of Learning
8.5 Growth Rates and the Education Policy
8.6 Lower Propensity to Save and Higher Growth Rates
8.7 More Than 'All Work and No Play Make Jack a Dull Boy'
8.8 The Dynamic Properties of the Model
8.9 Leisure and the Equilibrium Economic Structure
8.10 Growth, Human Capital and Unemployment
8.11 Human Capital and Economic Development
Appendix
A.8.1 Endogenous Education in the OSG Model
A.8.2 The Dynamics in Terms of
K
(
t
) and
H
(
t
)
A.8.3 Proving Proposition 8.8.1
A.8.4 Growth with Human Capital and Unemployment
9 Research and Learning by Doing
9.1 Growth with Learning by Doing and Research
9.2 Growth Rates and the Research Policy
9.3 Intermezzo for Multiple Equilibria and Poverty Traps
9.4 Equilibrium of the Growth Model with Knowledge
9.5 The Policy on Scientists' Payment
9.6 The Job Amenities and Economic Structure
9.7 Knowledge Accumulation and Economic Structure
9.8 Economic Growth with Knowledge and Multiple Groups
9.9 On Growth with Endogenous Knowledge
10 New Growth Theories and Monopolistic Competition
10.1 Development with Monopolistic Competition
10.2 Product Variety and Growth
10.3 Variety of Consumer Goods and Growth
10.4 The Schumpeterian Creative Destruction
10.5 Growth with Improvements in Quality of Products
10.6 Learning by Doing and Research
10.7 The New Growth Theory and Linearized Knowledge Growth
11 Complexity of Economic Growth
11.1 Preference Change with the OSG Model
11.2 Economic Chaos as Conclusion
Bibliography
Index
Cover
Half Title
Title
Copyright
Contents
List of Figures
List of Tables
Preface
Acknowledgements
1 Economic Growth and Growth Theory
1.1 Economic Growth
1.2 Economic Growth Theory
1.3 The Structure of the Book
2 The One-Sector Growth (OSG) Model
2.1 Behavior of Producers
2.2 Behavior of Consumers
2.3 On the Generalized Keynesian Consumption Function
2.4 Dynamics in Capital-Labor Ratio
2.5 Existence of a Stable Steady State
2.6 Productivity Improvement, Population Growth and the APS
2.7 The Dynamics with the Cobb-Douglas Production Function
2.8 The OSG Model with the CES Production Function
2.9 The OSG Model with the Leontief Production Function
2.10 The OSG Model with General Utility Functions
2.11 The OSG Model with Preference Dynamics
2.12 The OSG Model in Discrete Time
2.13 On the OSG Model
Appendix
A.2.1 Proving Theorem 2.4.1
A.2.2 The General OSG Model in Discrete Time
3 Traditional Growth Theories and the OSG Model
3.1 The Harrod-Domar Model
3.2 The Solow Model and the OSG Model
3.3 The Life Cycle Hypothesis and the Generalized Keynesian Consumption Function in the OSG Model
3.4 The Permanent Income Hypothesis and the Generalized Keynesian Consumption Function
3.5 The Ramsey Growth Model
3.6 The Ramsey Model and the OSG Model
3.7 Poverty Traps Generated in the Solow Model
3.8 On the Utility Function in the OSG Model
Appendix
A.3.1 The Golden Rule of Capital Accumulation in the Solow Model
4 Some Extensions of the OSG Model
4.1 Exogenous Technological Change
4.2 Endogenous Time and the OSG Model
4.3 Simulating Evolution of Time Value and Distribution
4.4 Public Goods and Returns to Scale
4.5 Home Production in the OSG Model
4.6 Environment and Growth
4.7 Population and Capital Accumulation
4.8 Money and Economic Growth
Appendix
A.4.1 The General OSG model with Endogenous Labor
A.4.2 Proving Lemma 4.6.1
5 Income Distribution and Growth
5.1 Growth with Income Transfers
5.2 Does Inequality Accelerate Growth?
5.3 Properties of the Dynamic System
5.4 The Distribution Policy and the Equilibrium
5.5 Human Capital and the Distribution Policy
5.6 Dynamics of the Loren Curve and the Kuznets Curve
5.7 Endogenous Time in the Two-Group Model
5.8 The OSG Model with Multiple Consumers
5.9 Simulating the Three-Group OSG Model
5.10 The OSG Model with Sexual Division of Labor
5.11 On Modeling Group Differences
Appendix
A.5.1 Stability Conditions in Section 5.3
6 Structural Changes and Development
6.1 The Uzawa Two-Sector Model
6.2 Refitting the Uzawa Model
6.3 Behavior of the Two-Sector Model
6.4 A Generalization of the Ricardian Growth Model
6.5 Discussion on Growth Rates
6.6 Simulating Economic Structural Change
6.7 The Propensity to Hold Wealth and Economic Structure
6.8 Engel's Law and Structural Change
6.9 A Two-Capital Growth Model
6.10 Economic Evolution with Multiple Sectors
Appendix
A.6.1 Proving Proposition 6.4.1
7 Growth, Unemployment and Welfare
7.1 The Welfare Economy with Unemployment
7.2 Dynamics in Capital-Worker Ratios
7.3 Equilibrium of the Economy
7.4 The Unemployment Policy
7.5 The Efficiency Wage Theory
7.6 Applying the Efficiency Wage Theory to the OSG Model
7.7 Other Causes of Unemployment
Appendix
A.7.1 A General OSG Model with the Efficiency Wage Theory
8 Learning by Doing, Education and Learning by Leisure
8.1 The AK-OSG Model with Learning by Doing
8.2 The AK-Ramsey Model
8.3 The Lucas Growth Model with Education
8.4 Growth with Multiple Ways of Learning
8.5 Growth Rates and the Education Policy
8.6 Lower Propensity to Save and Higher Growth Rates
8.7 More Than 'All Work and No Play Make Jack a Dull Boy'
8.8 The Dynamic Properties of the Model
8.9 Leisure and the Equilibrium Economic Structure
8.10 Growth, Human Capital and Unemployment
8.11 Human Capital and Economic Development
Appendix
A.8.1 Endogenous Education in the OSG Model
A.8.2 The Dynamics in Terms of
K
(
t
) and
H
(
t
)
A.8.3 Proving Proposition 8.8.1
A.8.4 Growth with Human Capital and Unemployment
9 Research and Learning by Doing
9.1 Growth with Learning by Doing and Research
9.2 Growth Rates and the Research Policy
9.3 Intermezzo for Multiple Equilibria and Poverty Traps
9.4 Equilibrium of the Growth Model with Knowledge
9.5 The Policy on Scientists' Payment
9.6 The Job Amenities and Economic Structure
9.7 Knowledge Accumulation and Economic Structure
9.8 Economic Growth with Knowledge and Multiple Groups
9.9 On Growth with Endogenous Knowledge
10 New Growth Theories and Monopolistic Competition
10.1 Development with Monopolistic Competition
10.2 Product Variety and Growth
10.3 Variety of Consumer Goods and Growth
10.4 The Schumpeterian Creative Destruction
10.5 Growth with Improvements in Quality of Products
10.6 Learning by Doing and Research
10.7 The New Growth Theory and Linearized Knowledge Growth
11 Complexity of Economic Growth
11.1 Preference Change with the OSG Model
11.2 Economic Chaos as Conclusion
Bibliography
Index
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Guide
Cover
Half Title
Title
Copyright
Contents
List of Figures
List of Tables
Preface
Acknowledgements
Start of Content
Bibliography
Index
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