Economic Growth and Macroeconomic Dynamics by Steve Dowrick, ... - 9780521049429
Economic Growth and Macroeconomic DynamicsRecent Developments in Economic Theory\nAuthor(s): Steve Dowrick, Rohan Pitchford, Stephen J. Turnovsky\nFormat: Paperback\nPublisher: Cambridge University Press, United Kingdom\nImprint: Cambridge University Press\nISBN-13: 9780521049429, 978-0521049429\nSynopsis\nThe development of the endogenous growth model rekindled interest in growth theory. In contrast to the neo-classical model, long-run endogenous growth emerged as an equilibrium outcome, reflecting the behaviour of optimizing agents in the economy. This book brings together a number of contributions in growth theory and macroeconomic dynamics, reflecting these developments and the ongoing debate over the relative merits of neo-classical and endogenous growth models. It focuses on the emergence of three important aspects: First, it develops growth models that extend the underlying theory in different directions. Second, it addresses one of the concerns of the literature on growth and.
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