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

Commercial banks: balance sheet, Commercial Banks: Balance Sheet The ac...

Commercial Banks: Balance Sheet The accompaning table gives the balance sheet of a commercial bank in a simplified format. The balance sheet contains particulars of a Bank's cu

At some number payment is fixed, The United States Treasury borrows money ...

The United States Treasury borrows money on behalf of the federal government all the time. One type of the government borrowing, called a treasury bills, promises a fixed payment a

Identification problem associated, Note and explain the identification prob...

Note and explain the identification problem associated with the following statement. "During Bill Clinton's presidency the US economy saw unusually strong economic growth; thus, Mr

Explain why interest rates are pro-cyclical, Critically explain why interes...

Critically explain why interest rates are pro-cyclical, using the supply and demand for bonds framework.

Maximizing tax revenue, Normal 0 false false false EN-I...

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Country personal consumption expenditures, If in some country personal cons...

If in some country personal consumption expenditures in a specific year are $50 billion, purchases of stocks and bonds are $30 billion, net exports are $-10 billion, government pur

Determine optimum output and price levels, Given the demand and cost data y...

Given the demand and cost data you will have available (see information below), briefly describe the process you would use to determine optimum output and price levels in the devel

Anti-trust legislation, Explain why anti-trust legislation supports a perfe...

Explain why anti-trust legislation supports a perfectly competitive market. Give at least one specific example of legislation to justify your explanation.

Aggregate demand and aggregate supply, Find one or more articles in the wal...

Find one or more articles in the wall street Journal or other business publications that describe changes in fiscal or monetary policies in the United States. Discuss how these pol

How central banks increase the monetary base, How central banks increase th...

How central banks increase the monetary base When the Central Bank cuts the target rate, they must simultaneously increase the monetary base by buying government securities. The

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