Growth and International Trade : An Introduction to the Overlapping Generations Approach

Online-Ressource (XV, 443 p. 87 illus, digital)

Description based upon print version of record

Growth and International Trade; An Introduction to the Overlapping Generations Approach; Preface; Acknowledgments; Contents; Abbreviations; 1: Growth and International Trade: Introduction and Stylized Facts; 1.1 Introduction and Motivation; 1.2 Definition of Growth Magnitudes; 1.2.1 Growth Rates of Products and Quotients; 1.3 Kaldor´s ``Stylized Facts´´; 1.4 Kuznets´ Facts; 1.5 Internationalization Facts; 1.5.1 World Trade Is Growing Faster Than World Output; 1.5.2 Export and Import Ratios Increase Over Time; 1.5.3 Two-Thirds of Foreign Trade Takes Place Between Developed Countries

1.5.4 Neighboring Countries Trade More With Each Other Than Countries That Are Further Apart1.6 Globalization Facts; 1.6.1 Foreign Direct Investment and Financial Investment; 1.6.2 Asia Since the 1970s: ``The´´ Dynamic Export Region; 1.7 Summary and Conclusions; 1.8 Exercises; References; Part I: Growth; 2: Modeling the Growth of the World Economy: The Basic Overlapping Generations Model; 2.1 Introduction and Motivation; 2.2 The Set-Up of the Model Economy; 2.3 The Macroeconomic Production Function and Its Per Capita Version; 2.4 Structure of the Intertemporal Equilibrium

2.4.1 Intertemporal Utility Maximization of Younger Households2.4.2 Old Households; 2.4.3 A-Temporal Profit Maximization of Producers; 2.4.4 Market Equilibrium in All Periods; 2.5 The Fundamental Equation of Motion of the Intertemporal Equilibrium; 2.6 Maximal Consumption and the ``Golden Rule´´ of Capital Accumulation; 2.7 Summary and Conclusion; 2.8 Exercises; Appendix; Constrained Optimization; Walras´ Law; References; 3: Steady State, Factor Income, and Technological Progress; 3.1 Introduction and Motivation; 3.2 The GDP Growth Rate in Intertemporal Equilibrium and in Steady State

3.3 Existence and Stability of the Long-Run Growth Equilibrium3.4 Efficiency of the Steady State; 3.5 Comparative Dynamics in the Basic OLG Model; 3.5.1 Increase in the Time Discount Factor; 3.5.2 Reduction of the Population Growth Rate; 3.5.3 Increase in the Rate of Technological Progress; 3.6 Real Wage, Real Interest Rate and Income Shares; 3.6.1 Income Distribution along the Equilibrium Growth Path; 3.7 Technological Progress in Neoclassical Growth Theory; 3.7.1 Hicks-Neutral Technological Progress; 3.7.2 Harrod-Neutral Technological Progress; 3.7.3 Solow-Neutral Technological Progress

3.7.4 Resumé3.8 Growth Accounting; 3.9 Summary and Conclusion; 3.10 Exercises; References; 4: Economic Growth and Public Debt in the World Economy; 4.1 Introduction and Motivation; 4.2 European Debt Statistics; 4.3 First-Order Conditions and Market Clearing; 4.3.1 Market Equilibrium in All Periods; 4.4 Intertemporal Equilibrium Dynamics; 4.5 Existence and Stability of Steady States; 4.5.1 Existence of a Long-Term Growth Equilibrium; 4.5.2 Stability of the Steady States; 4.5.3 Analytical Investigation of Dynamic Stability; 4.6 Reducing Public Debt Under Dynamic Efficiency

4.7 Summary and Conclusions

Preface -- 1 Growth and International Trade: Introduction and Stylized Facts -- Part I: Growth -- 2 Modeling the Growth of the World Economy: The Basic Overlapping Generations Model -- 3 Steady State, Factor Income, and Technological Progress -- 4 Economic Growth and Public Debt in the World Economy -- 5 "New" Growth Theory and Knowledge Externalities in Capital Accumulation -- 6 Endogenous Technological Progress and Infinite Economic Growth -- 7 Human Capital, Religion, and Economic Growth -- 8 Economic Growth With Bubbles -- Part II: International Trade -- 9 International Parity Conditions in a Two-Country OLG Model Under Free Trade -- 10 Factor Proportion, Inter-Sectoral Trade, and Product Life Cycle -- 11 Product Differentiation, Decreasing Costs, and Intra-Sectoral Trade -- 12 Globalization, Capital Accumulation, and Terms of Trade -- 13 Innovation, Growth, and Trade in a Two-Country OLG Model -- 14 Real Exchange Rage and Public Debt in a Two-Advanced-Country OLG Model -- 15 Public Debt Reduction in Advanced Countries and Its Impacts on Emerging Countries -- 16 External Balance, Dynamic Efficiency, and Welfare Effects of National Climate Policies -- 17 Nationally and Internationally Optimal Climate Policies -- 18 Modeling the Debt Mechanics of the Euro Zone -- Index.

10.1007/978-3-642-33669-0 [DOI]

ECONIS - Online Catalogue of the ZBW