Neoclassical growth model

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  • This note presents the neoclassical growth model in discrete time. The model is based on microfoundations, which means that the objectives of the economic agents are formulated explicitly, and that their behavior is derived by assuming that they always try to achieve their objectives as well as they can: employment and investment decisions by the firms are derived by assuming that firms maximize profits; consumption and saving decisions by the households are derived by assuming that households maximize their utility....

    pdf21p tuanloc_do 04-12-2012 17 0   Download

  • This article presents the stochastic growth model. The stochastic growth model is a stochastic version of the neoclassical growth model with microfoundations,1 and provides the backbone of a lot of macroeconomic models that are used in modern macroeconomic research. The most popular way to solve the stochastic growth model, is to linearize the model around a steady state,2 and to solve the linearized model with the method of undetermined coefficients. This solution method is due to Campbell (1994)....

    pdf0p sofia11 15-05-2012 38 7   Download

  • This article presents the stochastic growth model. The stochastic growth model is a stochastic version of the neoclassical growth model with microfoundations,1 and provides the backbone of a lot of macroeconomic models that are used in modern macroeconomic research. The most popular way to solve the stochastic growth model, is to linearize the model around a steady state,2 and to solve the linearized model with the method of undetermined coefficients. This solution method is due to Campbell (1994)....

    pdf32p tuanloc_do 04-12-2012 24 2   Download

  • This thesis examines empirically whether there is a link between education and economic growth in Chile during the period 1973-2005. This is done through the adoption of time-series analysis and co-integration techniques. Based on economic theory and empirical findings, potential implications for Chilean educational policy are then discussed.

    pdf58p pechi1412 25-11-2015 7 1   Download

  • Convergence problem of an economic variable represents an underlying forecast of neoclassical economic growth model. This paper aims to analyze the convergence of provincial per capita GDP stability in Vietnam over the period of 1991-2007.

    pdf10p rakther 12-09-2014 20 3   Download

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