Describe endogenous growth theory, Macroeconomics

Assignment Help:

Q. Describe Endogenous growth theory?

Endogenous growth theory or new growth theory was developed in the 1980s by Paul Romer and others. In neo-classical model, technological progress is an exogenous variable. Neo-classical growth model makes no attempt to explain why, how and when technological progress takes place. 

The major objective of the endogenous growth theory is to make the technological progress an endogenous variable to be explained within the model therefore the name endogenous growth theory.


Related Discussions:- Describe endogenous growth theory

Investment, What are the basic differences between the investment curve and...

What are the basic differences between the investment curve and an investment demand curve for an economy

Application of theory of consumer behavior, Application of Theory of Consum...

Application of Theory of Consumer Behavior As already discussed earlier, the theory is an important tool to interpret and analyse demand curves. Apart from its usefulness as a

Elasticity of demand questions need to be done in graphs, To really underst...

To really understand it, compute the following price elasticities of demand: ·          The price of a laptop increases by 20% and there is a 40% drop in the quantity dem

Demand analysis, how the demand of pizzas in pizza hut affecting the market...

how the demand of pizzas in pizza hut affecting the market of fast food

Give detail explanation about the inflation, Give detail explanation about ...

Give detail explanation about the Inflation Price index is computed at a particular point in time, inflation over a time period, mainly one year Inflation may just as

Online homework, I want you to do online homework as you did before on apl...

I want you to do online homework as you did before on aplia.com All questions are 10. They are in Aggregate Demand and Aggregate Supply The deadline within 24 hours. Please do

Feds actions on gdp impact, Suppose the banking system has reserves of $750...

Suppose the banking system has reserves of $750,000, demand deposits of $2,500,000 and a reserve requirement of 20%. a) If the Fed now purchases $125,000 worth of government bon

What is privatization?, Privatization is the move of ownership from the pub...

Privatization is the move of ownership from the public sector (government) to the private sector (business).

Effect of a tax on ice cream, Show the market for cigarettes paying particu...

Show the market for cigarettes paying particular attention to the price elasticity of demand and supply. What would happen to the total expenditure on cigarettes if there was a tax

Payment toward its bank loan, During the year, Calabash Clinic made a $50,0...

During the year, Calabash Clinic made a $50,000 cash payment toward its bank loan which it had previously recorded; $40,000 was for principal, and $10,000 was to pay the full amoun

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd