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Creator: Backus, David. and Kehoe, Patrick J. Series: Working paper (Federal Reserve Bank of Minneapolis. Research Dept.) Number: 318 Abstract:
These notes are intended as a do-it-yourself course in economic growth along lines suggested by Lucas ("On the Mechanics of Economic Development"). We examine in turn the neoclassical growth model; theories of endogenous growth, including learning-by-doing, increasing returns to scale, and externalities; and dynamic comparative advantage in trade. Salient features of growing economies and microeconomic evidence on production processes are used to evaluate alternatives. Exercises supplement the text.
Parola chiave: Returns to scale, Neoclassical growth, Learning-by-doing, Dynamic comparative advantage, and Technical change Soggetto: O42 - Economic growth and aggregate productivity - Monetary growth models, F11 - Trade - Neoclassical models of trade, and O33 - Technological change ; Research and development - Technological change : Choices and consequences ; Diffusion processes