By E. Van Imhoff
This publication reports optimum monetary development in a closed financial system which reports non-stable inhabitants progress. The economic system is defined via a neoclassical progress version which distinguishes overlapping generations in the inhabitants. the fundamental neoclassical development version is prolonged to incorporate numerous kinds of technical swap, in addition to funding in human capital or schooling. The study defined during this booklet connects the analytical instruments of conventional progress conception with the particular demographic event of so much industrialized nations. The position of demographic strategies within the development theoretical literature is mentioned within the subsequent part. The dialogue will exhibit that progress concept must expand its scope in the course of the building of development versions which explicitly realize demographic forces as a possible resource of non-stationarities. This e-book constitutes a primary try at one of these demographic extension. 1.1 progress concept and demographic swap the speculation of financial progress (e.g. Solow, 1970; Burmeister & Dobell, 1970; Wan, 1971) makes an attempt to explain and to provide an explanation for the long-run improvement of an economic climate (or, briefly, economy). An economic climate is largely dynamic in nature. one of the most vital resources of dynamics in economics are the next: accumulation of capital (investment); technical switch; inhabitants development. a few of these dynamic forces are, a minimum of partly, endogenous to the commercial procedure (i.e. made up our minds through monetary variables).
Read or Download Optimal Economic Growth and Non-Stable Population PDF
Best social policy books
This ebook provides a brand new computational method of fixing large-scale Auerbach-Kotlikoff Overlapping Generations (OLG) types in a complementarity layout. in contrast to with built-in answer equipment, the proposed decomposition set of rules permits the answer of multi-regional and multi-sectoral OLG types that convey lots of heterogeneous shoppers and various household-specific results.
As John Bellamy Foster writes in his foreword to the current ebook, “István Mészáros is among the maximum philosophers that the ancient materialist culture has but produced. His paintings stands essentially by myself this present day within the intensity of its research of Marx’s conception of alienation, the structural problem of capital, the dying of Soviet-style post-revolutionary societies, and the mandatory stipulations of the transition to socialism.
This e-book examines a couple of very important debates within the philosophy of medication, together with 'what is ailment? ', and the jobs and viability of strategies of causation, in scientific medication and epidemiology.
- Port Cities and Global Legacies: Urban Identity, Waterfront Work, and Radicalism
- Divided We Stand: Why Inequality Keeps Rising
- Islamic Law in Europe? Legal Pluralism and its Limits in European Family Laws
- Securing Respect: Behavioural Expectations and Anti-social Behaviour in the UK
- Framing the Social Security Debate: Values, Politics, and Economics (Conference of the National Academy of Social Insurance)
Extra info for Optimal Economic Growth and Non-Stable Population
W K Q=K A D A Solow D E A - mK - (wL/O')·(-l/WL)·(-R) - 0 - mK - R/O' IQ=£ - mK + WL·(l-l/O')·(l/WK)·(-R) A W K (16) - R- (17) From (5) and (15)-(17) we can deduce the following conclusions: Technical change simultaneously Hicks-neutral, Harrod-neutral and Solowneutral is possible i f and only i f the elasticity of substitution equals unity (cf. 2 46 Hicks-neutral, Harrod-neutral and Classifications of technical change Solow-neutral, then the production function is Cobb-Douglas. If technical change is simultaneously Hicks-neutral and Harrod-neutral, then it is also Solow-neutral; if it is simultaneously Harrod-neutral and Solow-neutral, then it is also Hicks-neutral; if it is simultaneously Solow-neutral and Hicks-neutral, then it is also Harrod-neutral.
The founding father of the embodiment hypothesis Solow (1960) formulated its essence as follows: "Improvements in [embodied] technology affect output only to the extent that they are carried into practice either by net capital formation or by the replacement of old- fashioned equipment by the latest models, with a consequent shift in the distribution of equipment by date of birth" (p. 91). Wan (1971) defines embodied technical progress as "an' inward shift' of the entire isoquant map ... due to the use of newer equipment" (p.
It is not immediately clear why the former type of investment should be labelled "shifting the production function" while the latter is simply labelled "accumulation of physical capital". Shell "technical knowledge" (1967b) constructs a and physical capital are growth model treated in a in which practically identical way. Yet, when in the same volume the model is slightly reformulated it appears that he interprets increases in technical knowledge as shifting the production function (Shell, 1967a).