On the Many Kinds of Growth: A Note
在一个随机动态对数线性一般均衡模型中综合了外生和内生增长来源,区分了不同增长模式,对研究经济增长理论的学者有参考价值。
In this note, the authors synthesize exogenous and endogenous sources of economic growth in a stochastic dynamic log linear general equilibrium model. Endogenous growth could be the result of internal constant returns to scale, external increasing returns to scale in the production of human capital or in the production of goods. The authors get a closed form log linear representation for the dynamic laws of motion for the human and physical capital stocks. Using the solution, they distinguish between different sources of growth that combine exogenous technical progress with endogenous sources of growth that jointly can generate many possible patterns of economic growth. Copyright 1996 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.