Notes on Models of Economic Growth

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Creator Series 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) Palabra Clave Table of Contents
  • The neoclassical growth model ; Engines of growth ; Dynamics of comparative advantage with endogenous growth.
Date Modified
  • 07/15/2019
Corporate Author
  • Federal Reserve Bank of Minneapolis. Research Department
Publisher
  • Federal Reserve Bank of Minneapolis
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