What’s New and What’s Old in New Growth Theory: Endogenous Technology, Microfoundation and Growth Rate Predictions
Year: 1995
Author: Schneider, Johannes, Ziesemer, Thomas
Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 115 (1995), Iss. 3 : pp. 429–472
Abstract
This paper surveys new growth theory with emphasis on three open issues known from old endogenous growth theory of the sixties: i) What is the content of the black-box variable 'technology'? ii) Which market structure prevails when endogenous technology generates dynamically increasing returns? iii) What are the justifications for and implications of different specifications of production functions for technical progress? We show that new growth theory has made progress on the first two problems but almost none with respect to the third.
Journal Article Details
Publisher Name: Global Science Press
Language: Multiple languages
DOI: https://doi.org/10.3790/schm.115.3.429
Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 115 (1995), Iss. 3 : pp. 429–472
Published online: 1995-03
AMS Subject Headings: Duncker & Humblot
Copyright: COPYRIGHT: © Global Science Press
Pages: 44
Author Details
-
Disequilibrium growth theory with insider–outsider effects
Flaschel, Peter
Structural Change and Economic Dynamics, Vol. 11 (2000), Iss. 3 P.337
https://doi.org/10.1016/S0954-349X(00)00018-7 [Citations: 2]