The neoclassical growth theory is an economic concept where equilibrium is found by varying the labor amount and capital in ... "Trevor Swan and the Neoclassical Growth Model," Pages ii, 2-3, 10 ...

The model developed in this paper expands upon the traditional neoclassical exogenous growth model by facilitating a long-run growth analysis of the impact of openness to trade within a multi-country ...

The standard neoclassical growth model hides income inequality behind a representative agent who has the average, per capita level of income. As a result, GDP per capita has become engrained in ...

Solow later tried to get out of this conundrum in 1994 when he alluded to “a criticism of the neoclassical model: it is a theory of growth that leaves the main factor in economic growth ...

Here I reference a research paper, "The Neoclassical Growth of China" by economists Jesus Fernandez-Villaverde, Lee Ohanian and Wen Yao, and published by the US National Bureau of Economic ...

Pugno, M. (1996). Structural stability in a cross-country neoclassical growth model. Applied Economics, 28, 1555-1566. Temple, Jonathan R. W. (1998). Robustness tests of the augmented Solow model ...

Economic growth will shift the income distribution to the right, causing people’s incomes to rise above the poverty line. The effect of growth on poverty will depend on the fraction of the population ...

Endogenous growth theory maintains that economic growth is primarily the result of internal forces, rather than external ones. It argues that improvements in productivity can be tied directly to ...

As with neoclassical growth theory, it is difficult to point to a particular policy that was implemented because a policymaker sat down and read an academic article on endogenous growth theory.

Using Panel Data Estimation, confirmation is found of the empirical validity of the neoclassical model. The model also explains quite well the differences in growth between countries and time periods.

We explain these features in terms of a conventional neoclassical growth model-with no monetary or nominal exchange rate policy-by including two aspects of the economy explicitly in the model: (1) low ...