3 posts tagged “model-building”
More lecture notes on economic growth: models with natural resources and with Malthusian population dynamics.
More introduction to growth theory lecture notes--what I'm going to be working from during the lecture.
A few graphs:
- World income distribution and telephone usage 2005
- World income distribution and telephone usage 1975
- U.S. nonfarm employment, 1940-2006
- U.S. real GDP per worker, 1950-2006
A simple model, the Solow model, for analyzing an economy with labor L, capital K, and technology E...
- The Solow model assumes:
- The labor force grows at a constant proportional rate n
- The rate of improvement of "technology" is a constant proportional rate g
- Savings leads to investment of a fraction s of output Y in increasing the capital stock K
- A constant proportion delta of the capital stock K wears out each period.
- How much of the cross-country and cross-time pattern of economic growth can we explain with this simple model?
Neighborhood
Explore friends, family, friends & family, or entire neighborhood.
