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 ...

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 ...

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 ...

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 ...

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 ...

The current wave of technological revolution is changing the way policies work. This paper examines the growth and distributional implications of three policies when “robot'' capital (a broad ...

South Korea's growth miracle has been well documented. A large set of institutional and policy reforms in the early 1960s is thought to have contributed to the country's extraordinary performance. In ...

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 ...