Rethinking the concept of long-run economic growth

This paper argues that growth theory needs a more general "regularity" concept than that of exponential growth. This offers the possibility of considering a richer set of parameter combinations than in standard growth models. Allowing zero population growth in the Jones (1995) model serves as our illustration of the usefulness of a general concept of "regular growth".

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Year of publication:	2006
Authors:	Groth, Christian ; Koch, Karl-Josef ; Steger, Thomas M.
Publisher:	Munich : Center for Economic Studies and ifo Institute (CESifo)
Subject:	Wirtschaftswachstum \| Wachstumstheorie \| Harrod-Domar-Wachstumstheorie

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Series:	CESifo Working Paper ; 1701
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	516947362 [GVK] hdl:10419/25746 [Handle]
Classification:	O31 - Innovation and Invention: Processes and Incentives ; O40 - Economic Growth and Aggregate Productivity. General ; O41 - One, Two, and Multisector Growth Models
Source:	EconStor

Persistent link: https://www.econbiz.de/10010263898