English, Article, Journal or magazine article edition: When economic growth is less than exponential Christian Groth; Karl-Josef Koch; Thomas M. Steger

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Bookmark: http://trove.nla.gov.au/version/5206
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • When Economic Growth is Less than Exponential
Author
  • Christian Groth
  • Karl-Josef Koch
  • Thomas M. Steger
Physical Description
  • preprint
Notes
  • RePEc:sie:siegen:129-09
  • This paper argues that growth theory needs a more general notion of “regularity” than that of exponential growth. We suggest that paths along which the rate of decline of the growth rate is proportional to the growth rate itself deserve attention. This opens up for considering a richer set of parameter combinations than in standard growth models. And it avoids the usual oversimplistic dichotomy of either exponential growth or stagnation. Allowing zero population growth in three different growth models (the Jones R&​D-based model, a learning-by-doing model, and an embodied technical change model) serves as illustrations that a continuum of “regular” growth processes fill the whole range between exponential growth and complete stagnation.
  • RePEc:mar:magkse:200931
  • quasi-arithmetic growth; regular growth; semi-endogenous growth; knife-edge restrictions; learning by doing; embodied technical change
  • RePEc:kud:epruwp:09-03
Language
  • English
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