What pivotal change do the authors make to the solow model

Assignment Help Microeconomics

Reference no: EM13743178

You will be required to write a summary and review of the following article: Mankiw, G.N., D. Romer, & D.N. Weil (1992). A Contribution to the Economics of Growth

The Quarterly Journal of Economics, 107(2), 407-437.

The first section of your paper should summarize the main findings of the paper. What unique contribution do the authors make? What do the authors argue?
The second section of your paper should review the article. Your review should include discussing the following:
1. What pivotal change do the authors make to the Solow model? How does this change impact the Solow model's predictions?
2. What evidence do the authors present to test their new model? How accurate is the new model in comparison to the Solow model?
3. What do the authors report regarding convergence? Does the sample used for evaluation matter? How does the evidence compare to endogenous growth?
4. What does the article do well? Where could the authors make improvements?

Reference no: EM13743178

Questions Cloud

What is the npv : Consider investing in a new project. Requires an item of equipment that costs $200,000, in addition, $10,000 on shipping costs and $30,000 on installation charges. The equipment will be housed in a building currently owned by the company. The buildin..

What is the effective interest rate per year : A friend borrows 500$, agreeing to pay back the loan principal plus 75$ interest one month later. One year goes by and he doesn’t pay. Exactly one year later you ask him to pay the loan immediately plus an interest with monthly compounding.

Some of the market structures we have seen are not realistic : Can you name some well known firms that we have heard about recently going out of business? What names come to mind? Some of the market structures we have seen are not realistic and some are realistic can you tell me more about it. How is that ? Why ..

Can you tell us more about clean and green energy : Can you tell us more about today's attempts to promote clean and "green" energy? How successful are these?

What pivotal change do the authors make to the solow model : What pivotal change do the authors make to the Solow model and how does this change impact the Solow model's predictions?

What does dg of a metabolic reaction measure : What does ΔG of a metabolic reaction measure and Which of the following does a catalyst change during a chemical reaction

Difference between accounting profit-economic profit : Why do restaurants shut down at a certain hour of the day, say 10:00 p.m? Why do movie theatres still show movies that have just a handful of movie watchers? What is the difference between accounting profit, economic profit, and normal profit?

Data processing project : You are the manager of a large data processing project. Your company, Systems Inc., worked very hard to obtain a contract with Big Bank to do their conversions from their recent acquisition, Small Bank.

Diseconomies of scale occur at firms with larger capacities : A firm encountering economies of scale over some range of output will have a falling long-run average cost curve. How can diseconomies of scale occur at firms with larger capacities?

User Account

All Pages