Download or read book The Elements and Dynamic Systems of Economic Growth and Trade Models written by Bjarne S. Jensen and published by Palgrave Macmillan. This book was released on 2024-06-02 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This updated and expanded book examines the fundamentals of economic growth models as expressed by dynamic systems of nonlinear differential equations. With homogeneous dynamic systems as the unifying mathematical framework, the time paths and long-run stability properties of the solutions to classical, neoclassical, and modern macroeconomic growth models are analyzed. The general structure and solutions of two-sector and multi-sector growth models are also explored, with special attention given to the evolution of output compositions and sectoral factor allocations involved in Walrasian general equilibrium dynamics. Ramsey optimal growth (saving) models with variable intertemporal substitution (non-homothetic utility) are discussed to demonstrate the ability to generate a realistic historically observed evolution of economic per capita growth rates and saving rates. The book aims to highlight how basic economic growth models can be extended widely, including international trading economies, world market prices, commodity trade patterns, and issues related to globalization, migrations, and international factor movements. It will be relevant to students and researchers interested in economic growth and trade policy.
Download or read book Dynamics Economic Growth and International Trade written by Bjarne Sloth Jensen and published by University of Michigan Press. This book was released on 2010-03-11 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: While endogenous growth theory has claimed success in modeling various factors of growth and providing an analysis of sustainable economic growth, most of the growth models in published work are for closed economies. The omission of international trade, which is often regarded as the engine of growth, greatly reduces their usefulness. The theory of international trade, on the other hand, is characterized by models that are mainly static. While interest in the dynamics of trade has been growing, there is still little work in this area. The success of the newly industrialized economies that have adopted trade-oriented policies suggests how limited present trade theory is in explaining and analyzing the growth of these economies. The work collected here serves to bridge the "old" growth theory and "new" growth theory; merge growth and trade theory; suggest new analysis and techniques of economic growth; and provide analysis of new issues related to growth and trade. The first chapter surveys endogenous growth and international trade and critically reviews the endogenous growth theory with a unified framework, covering the work on both closed and open economies. Three chapters examine the dynamics of some basic trade models; two chapters focus on growth and trade with endogenous accumulation of human and public capital; two chapters on economic growth, technological progress, and international trade; and two chapters on growth and international factor movements. Contributors include Eric W. Bond, Theo S. Eicher, Rolf Färe, Oded Galor, Shawna Grosskopf, Bjarne S. Jensen, Pantelis Kalaitzidakis, Shoukang Lin, Ngo Van Long, Kazuo Nishimura, Koji Shimomura, Kathleen Trask, Stephen J. Turnovsky, Pham Hoang Van, Henry Wan, Jr., Chunyan Wang, and Kar-yiu Wong. Bjarne S. Jensen is Associate Professor of Economics, Copenhagen Business School. Kar-yiu Wong is Professor of Economics, University of Washington, Seattle.
Download or read book Dynamic Systems Economic Growth and the Environment written by Jesús Crespo Cuaresma and published by Springer Science & Business Media. This book was released on 2009-10-20 with total page 295 pages. Available in PDF, EPUB and Kindle. Book excerpt: The major goal of the book is to create an environment for matching different d- ciplinary approaches to studying economic growth. This goal is implemented on the basis of results of the Symposium “Applications of Dynamic Systems to E- nomic Growth with Environment” which was held at the International Institute for Applied Systems Analysis (IIASA) on the 7th–8th of November, 2008, within the IIASA Project “Driving Forces of Economic Growth” (ECG). The symposium was organized by coordinators of the ECG project: Jesus Crespo-Cuaresma from IIASA World Population Program, and Tapio Palokangas and Alexander Tarasyev from IIASA Dynamic Systems Program. The book addresses the issues of sustainability of economic growth in a cha- ing environment, global warming and exhausting energy resources, technological change, and also focuses on explanations of signi?cant ?uctuations in countries’ growth rates. The chapters focus on the analysis of historical economic growth - periences in relation to environmental policy, technological change, development of transport infrastructure, population issues and environmental mortality. The book is written in a popular-science style, accessible to any intelligent lay reader. The prime audience for the book is economists, mathematicians and en- neersworkingonproblemsofeconomicgrowthandenvironment.Themathematical part of the book is presented in a rigorous manner, and the detailed analysis is - pected to be of interest to specialists in optimal control and applications to economic modeling. The book consists of four interrelated parts.
Download or read book Dynamics in Economic Growth and International Trade written by Bernhard Felderer and published by . This book was released on 2003 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Origins of Economic Growth written by Arvid Aulin and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: Dealing with factors affecting economic growth in knowledge-based societies, the author shows that the interaction between material and nonmaterial values is the ultimate source of all economic growth. The model thus developed predicts the quantitative facts concerning business cycles better than the conventional real-cycle models, while also producing a new growth path whose existence is verified by empirical facts. The results provide strong evidence of the economic relevance of nonmaterial values, and also prompt a new view of the stochastic elements in the business cycles.
Download or read book Economic Growth and Macroeconomic Dynamics written by Steve Dowrick and published by . This book was released on 2006-06-11 with total page 201 pages. Available in PDF, EPUB and Kindle. Book excerpt: The development of the endogenous growth model rekindled interest in growth theory. In contrast to the neo-classical model, long-run endogenous growth emerged as an equilibrium outcome, reflecting the behaviour of optimizing agents in the economy. This book brings together a number of contributions in growth theory and macroeconomic dynamics, reflecting these developments and the ongoing debate over the relative merits of neo-classical and endogenous growth models. It focuses on the emergence of three important aspects: First, it develops growth models that extend the underlying theory in different directions. Second, it addresses one of the concerns of the literature on growth and dynamics: the statistical properties of underlying data and the effort to ensure that growth models are consistent with empirical evidence. Third, it discusses the increasingly international focus of macrodynamics and growth theory, an inevitable consequence of the integration of the world economy.
Download or read book Economic Dynamics written by Wei-Bin Zhang and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: The theory of economic development is a branch of economic dynamics. Any discussion of the theory must involve dynamics even though not all dynamic problems are necessarily related to economic development. The theory's primary locus is upon the nice paths of economic variables. Stationary states, which have been the main concern of modem economic development theory, are actually special cases of economic dynamics. In this study, we propose an economic development theory within the framework of input-output systems and neoclassical economics. No political problems will be dealt with, although this does not mean that questions such as why Japan had a higher growth rate than China in the past are not important. Similarly, rather than dealing with the psychological and institutional aspects of in economic development processes we only suggest ways (or methods, as Hicks would call them) for analyzing what determines economic development from the point of view of "pure" economics. Our main contribution to economic growth theory is that we investigate various nonlinear dynamic phenomena such as bifurcations and economic cycles. We emphasize that oscillations and structural changes are not rare but universal in a progressive economy. No economic system can be stabilized forever if change is permitted.
Download or read book Economic Growth Theory written by Wei-Bin Zhang and published by Routledge. This book was released on 2018-01-18 with total page 394 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book develops a new theoretical framework to examine the issues of economic growth and development. Providing analysis of economic dynamics in a competitive economy under government intervention in infrastructure and income distribution, the book develops a unique analytical framework under the influence of traditional neoclassical growth theory. However, in a departure from neoclassical growth theory it examines both the Solow-Swan and the Ramsey growth models, introducing a utility function which treats consumer choices in ways critically different to previous approaches. Using practical examples and models the book demonstrates how this new direction can effectively analyze the key issues of economic growth, in a compact and comprehensive manner.
Download or read book Growth Theory Nonlinear Dynamics and Economic Modelling written by William A. Brock and published by Edward Elgar Publishing. This book was released on 2001-01-01 with total page 488 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Buz Brock's contribution to economic theory in general and economic dynamics in particular are characterized by an unmatched richness of ideas and by deep theoretical, empirical as well as computational analysis. Brock's contribution to economic dynamics range from one extreme of the field, global stability of stochastic optimal growth models, to another extreme, market instability and nonlinearity in economic and financial modelling and data analysis. But his work also includes environmental and economic policy issues and, more recently, the modelling of markets as complex adaptive systems. This collection of essays reflects Brock's richness of ideas that have motivated economists for more than three decades already and will continue to influence many economists for the next decades to come.' - Cars H. Hommes, University of Amsterdam, The Netherlands 'Buz Brock has been, from the beginning of his career, one of the most original thinkers in dynamic economics. His early work showed that growth with random elements could be studied effectively and above all posed exactly the right questions. His more recent work has brought complexity theory to the fore and shown its implications for financial and other markets. In the process, he has both introduced and used econometric tools to show the relevance of his work to empirically observed phenomena. It is very useful to have his work in collected form.' - Kenneth J. Arrow, Stanford University, US This outstanding collection of William Brock's essays illustrates the power of dynamic modelling to shed light on the forces for stability and instability in economic systems. The articles selected reflect his best work and are indicative both of the type of policy problem that he finds challenging and the complex methodology that he uses to solve them. Also included is an introduction by Brock to his own work, which helps tie together the main aspects of his research to date.
Download or read book Complexity in Financial Markets written by Matthieu Cristelli and published by Springer Science & Business Media. This book was released on 2013-08-28 with total page 223 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tools and methods from complex systems science can have a considerable impact on the way in which the quantitative assessment of economic and financial issues is approached, as discussed in this thesis. First it is shown that the self-organization of financial markets is a crucial factor in the understanding of their dynamics. In fact, using an agent-based approach, it is argued that financial markets’ stylized facts appear only in the self-organized state. Secondly, the thesis points out the potential of so-called big data science for financial market modeling, investigating how web-driven data can yield a picture of market activities: it has been found that web query volumes anticipate trade volumes. As a third achievement, the metrics developed here for country competitiveness and product complexity is groundbreaking in comparison to mainstream theories of economic growth and technological development. A key element in assessing the intangible variables determining the success of countries in the present globalized economy is represented by the diversification of the productive basket of countries. The comparison between the level of complexity of a country's productive system and economic indicators such as the GDP per capita discloses its hidden growth potential.
Download or read book Introduction to Modern Economic Growth written by Daron Acemoglu and published by Princeton University Press. This book was released on 2008-12-15 with total page 1009 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduction to Modern Economic Growth is a groundbreaking text from one of today's leading economists. Daron Acemoglu gives graduate students not only the tools to analyze growth and related macroeconomic problems, but also the broad perspective needed to apply those tools to the big-picture questions of growth and divergence. And he introduces the economic and mathematical foundations of modern growth theory and macroeconomics in a rigorous but easy to follow manner. After covering the necessary background on dynamic general equilibrium and dynamic optimization, the book presents the basic workhorse models of growth and takes students to the frontier areas of growth theory, including models of human capital, endogenous technological change, technology transfer, international trade, economic development, and political economy. The book integrates these theories with data and shows how theoretical approaches can lead to better perspectives on the fundamental causes of economic growth and the wealth of nations. Innovative and authoritative, this book is likely to shape how economic growth is taught and learned for years to come. Introduces all the foundations for understanding economic growth and dynamic macroeconomic analysis Focuses on the big-picture questions of economic growth Provides mathematical foundations Presents dynamic general equilibrium Covers models such as basic Solow, neoclassical growth, and overlapping generations, as well as models of endogenous technology and international linkages Addresses frontier research areas such as international linkages, international trade, political economy, and economic development and structural change An accompanying Student Solutions Manual containing the answers to selected exercises is available (978-0-691-14163-3/$24.95). See: http://press.princeton.edu/titles/8970.html. For Professors only: To access a complete solutions manual online, email us at: [email protected]
Download or read book Dynamic Modeling and Applications for Global Economic Analysis written by Elena Ianchovichina and published by Cambridge University Press. This book was released on 2012-02-20 with total page 449 pages. Available in PDF, EPUB and Kindle. Book excerpt: A sequel to Global Trade Analysis: Modeling and Applications (Cambridge University Press, 1996, edited by Thomas W. Hertel), this new volume presents the technical aspects of the Global Trade Analysis Program's global dynamic framework (GDyn) and its applications within important global policy issues. The book covers a diverse set of topics including trade reform, growth, investment, technology, demographic change and the environment. Environmental issues are particularly well-suited for analysis with GDyn, and this volume covers its uses with climate change, resource use and technological progress in agriculture. Other applications presented in the book focus on integration issues such as rules governing foreign investment, e-commerce regulations, trade in services, harmonization of technical standards, sanitary and photo-sanitary regulations, streamlining of customs procedures, and demographic change and migration.
Download or read book On the Dynamics of Economic Growth written by Mr.Michael Sarel and published by International Monetary Fund. This book was released on 1994-11-01 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the dynamics of economic growth. First, it demonstrates that the standard neoclassical growth model with constant elasticity of intertemporal substitution is not consistent with the patterns of development we observe in the real world, once we consider the initial conditions. Second, it examines an alternative growth model, which is consistent with endogenously determined initial conditions and also generates dynamics that are in accord with the historical patterns of growth rates, capital flows, savings rates and labor supply. The alternative model is a generalized version of the neoclassical growth model, with increasing rates of intertemporal substitution due to a Stone-Geary type of utility.
Download or read book The Forces of Economic Growth written by Alfred Greiner and published by Princeton University Press. This book was released on 2016-06-28 with total page 205 pages. Available in PDF, EPUB and Kindle. Book excerpt: In economics, the emergence of New Growth Theory in recent decades has directed attention to an old and important problem: what are the forces of economic growth and how can public policy enhance them? This book examines major forces of growth--including spillover effects and externalities, education and formation of human capital, knowledge creation through deliberate research efforts, and public infrastructure investment. Unique in emphasizing the importance of different forces for particular stages of development, it offers wide-ranging policy implications in the process. The authors critically examine recently developed endogenous growth models, study the dynamic implications of modified models, and test the models empirically with modern time series methods that avoid the perils of heterogeneity in cross-country studies. Their empirical analyses, undertaken with newly constructed time series data for the United States and some core countries of the Euro zone, show that models containing scale effects, such as the R&D model and the human capital model, are compatible with time series evidence only after considerable modifications and nonlinearities are introduced. They also explore the relationship between growth and inequality, with particular focus on technological change and income disparity. The Forces of Economic Growth represents a comprehensive and up-to-date empirical time series perspective on the New Growth Theory.
Download or read book Economic Growth written by Alfonso Novales and published by Springer. This book was released on 2014-07-02 with total page 568 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a book on deterministic and stochastic Growth Theory and the computational methods needed to produce numerical solutions. Exogenous and endogenous growth models are thoroughly reviewed. Special attention is paid to the use of these models for fiscal and monetary policy analysis. Modern Business Cycle Theory, the New Keynesian Macroeconomics, the class of Dynamic Stochastic General Equilibrium models, can be all considered as special cases of models of economic growth, and they can be analyzed by the theoretical and numerical procedures provided in the textbook. Analytical discussions are presented in full detail. The book is self contained and it is designed so that the student advances in the theoretical and the computational issues in parallel. EXCEL and Matlab files are provided on an accompanying website (see Preface to the Second Edition) to illustrate theoretical results as well as to simulate the effects of economic policy interventions. The structure of these program files is described in "Numerical exercise"-type of sections, where the output of these programs is also interpreted. The second edition corrects a few typographical errors and improves some notation.
Download or read book Economic Growth written by Zhiqi Chen and published by National Library of Canada = Bibliothèque nationale du Canada. This book was released on 1991 with total page 338 pages. Available in PDF, EPUB and Kindle. Book excerpt: The thesis comprises four essays that, through theoretical analysis, explore the dynamic impact of capital accumulation on international trade (Chapters 1 and 2) and the dynamic interaction between economic activities and the global climate (Chapters 3 and 4).
Download or read book Regional Economics written by Roberta Capello and published by Routledge. This book was released on 2014-05-01 with total page 397 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book is a textbook in regional economics for undergraduate and graduate students. A vast amount of theories and models have been developed since the official recognition of regional economics as a distinct branch of economics. In particular, this book focuses on logical and theoretical linkages between different theories and models: both macro and microeconomic; neoclassical and Keynesian. The evolution of theoretical approaches in regional economics is dealt in the book through the evolution of the concept of space: from physical space, which characterizes location theory, to uniform space (typical of neoclassical and Keynesian approaches ) to diversified-relational space (embedded in local districts and milieu approaches, as well as in the theory of learning regions) to diversified stylised space (as exemplified by the new economic geography and dynamic neoclassical approaches).
