||Backus, David. and Kehoe, Patrick J.
||Working paper (Federal Reserve Bank of Minneapolis. Research Dept.)
||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.
||Neoclassical growth, Returns to scale, Technical change, Learning-by-doing, and Dynamic comparative advantage
||F11 - Trade - Neoclassical models of trade, O33 - Technological change ; Research and development - Technological change : Choices and consequences ; Diffusion processes, and O42 - Economic growth and aggregate productivity - Monetary growth models