Creator

• Backus, David
• Kehoe, Patrick J.

Series

• Working paper (Federal Reserve Bank of Minneapolis. Research Department)

Issue number

• 318

Date created

• 1986-10

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.

Subject (JEL)

• F11 - Neoclassical Models of Trade
• O42 - Monetary Growth Models
• O33 - Technological Change: Choices and Consequences; Diffusion Processes

Keyword

• Technical change
• Neoclassical growth
• Learning-by-doing
• Dynamic comparative advantage
• Returns to scale

Table of Contents

• The neoclassical growth model ; Engines of growth ; Dynamics of comparative advantage with endogenous growth.

Date modified

• 05/04/2020

Corporate Author

• Federal Reserve Bank of Minneapolis. Research Department

Publisher

• Federal Reserve Bank of Minneapolis

Resource type

• Research Paper

DOI

•  https://doi.org/10.21034/wp.318

License

• Creative Commons BY-NC Attribution-NonCommercial 4.0 International

In Collection:

• Working Papers

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