Lecture Notes in Economics and Mathematical Systems

Steger, Thomas

Four stylised facts of aggregate economic growth are set up initially. The growth process is interpreted to represent transitional dynamics rather than balanced-growth equilibria. Against this background, the fundamental importance of subsistence consumption is comprehensively analysed. Subsequently, the meaning of the productive-consumption hypothesis for the intertemporal consumption trade-off and the growth process is investigated. Finally, the process of growth is analysed empirically by means of cross-sectional conditional convergence regressions with endogenous control variables.

Details

Published by: Springer

Publication Date: 2000-08-04

Format: Paperback

ISBN-13: 9783540675631

DOI: 10.1007/978-3-642-45784-5

Dimensions: 235cm x155cm

Pages: 151