具体描述
This book presents a macroeconomic dynamic model � la Solow-Swan, including the market for labour, in a discrete time structure. Labour supply is modelled as a reversed S curve (derived in the appendix). The models are expanded to include expenditure on R&D (thus endogenous technical progress), and public expenditure on infrastructures.
For each of the three models, numerical simulations are implemented in MAPLE, and the results are shown in time series figures, which make it easy to detect that even small changes in the parameters produce responses in the time behaviour of the main variables: from steady growth, to regular cycles, to chaotic-like time paths.
The simulations show that cycles do not promote material welfare, as measured by total undiscounted consumption along the time horizon, and that the comparative action of R&D versus public expenditure is strictly linked to the values assigned to the parameters.
作者简介
目录信息
Front Matter....Pages I-XIV
Front Matter....Pages 1-1
Foundations of Macroeconomic Dynamics....Pages 3-13
Population Dynamics and the Labour Market....Pages 15-21
Production Functions....Pages 23-28
Front Matter....Pages 29-29
A Model Without R&D and Public Expenditure....Pages 31-38
Some Determinants of Endogenous Growth....Pages 39-44
Public Expenditure and Taxes....Pages 45-49
Front Matter....Pages 51-53
Stationary Population: Cobb–Douglas Simulations....Pages 55-90
Stationary Population: CES Simulations....Pages 91-133
Stationary Population: Leontief Simulations....Pages 135-167
Steady Growing Population....Pages 169-187
Logistic Growing Population....Pages 189-213
Effects of Public Expenditure....Pages 215-247
Material Welfare Comparisons....Pages 249-252
Back Matter....Pages 253-268
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