Download This PaperRethinking the Concept of Long-Run Economic Growth
16 Pages Posted: 27 Apr 2006
Date Written: April 2006
Abstract
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".
Keywords: exponential growth, arithmetic growth, regular growth, semi-endogenous growth, knife-edge restrictions
JEL Classification: O31, O40, O41
Suggested Citation: Suggested Citation
Groth, Christian and Koch, Karl-Josef and Steger, Thomas Michael, Rethinking the Concept of Long-Run Economic Growth (April 2006). CESifo Working Paper Series No. 1701, Available at SSRN: https://ssrn.com/abstract=899250 or http://dx.doi.org/10.2139/ssrn.899250
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