Economic Growth / Edition 1

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Overview

This graduate level text on economic growth surveys neoclassical and more recent growth theories, stressing their empirical implications and the relation of theory to data and evidence. The authors have undertaken a major revision for the long-awaited second edition of this widely used text, the first modern textbook devoted to growth theory. The book has been expanded in many areas and incorporates the latest research.
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What People Are Saying

From the Publisher

"Barro and Sala-i-Martin have done a superb job of synthesizing much of the existing theoretical and empirical research on the mechanisms and determinants of economic growth and convergence. Though it incorporates much new material, this updated version is fully accessible to a third year undergraduate student, while remaining of invaluable use to any research scholar seriously interested in growth and development economics."--Philippe Aghion, Department of
Economics, Harvard University

The MIT Press

"Barro and Sala-i-Martin provide an outstanding and comprehensive treatment of growth theory and empirics—an instant classic! I learn something new every time I pull my copy from the shelf." Charles I. Jones , Department of Economics, University of
California, Berkeley

The MIT Press

"Laurence Kotlikoff is the world's leading authority on savings behavior: its causes and its consequences for public policy. These essays are a worthy successor and extension to his
What Determines Savings? Anyone who wants to stay current on research in public finance will want to read the recent contributions collected here."--Robert E. Lucas, Jr., John Dewey Distinguished
Service Professor, The University of Chicago, Nobel Laureate in Economic Sciences (1995)Please note:
"What Determines Savings?" is in italics.

The MIT Press

"Dalia Marin and Monika Schnitzer have produced the first serious theory of barter in emerging market economies. Using the methodology and techniques of modern contract theory, they show how barter trade can mitigate contractual enforcement problems in relationships involving moral hazard in technology trade and debt repayments. They also provide an illuminating analysis of barter in transition economies where firms are both highly credit-constrained and operating in a non-competitive environment with a small number of suppliers and customers. This book will become a classical reference in the fields of transition, international trade and international finance, and also for all students and researchers interested in economic development and institutions."--Philippe Aghion, Department of Economics, Harvard University

The MIT Press

"Lionel McKenzie's new monograph is a pleasure to read. Only a major contributor to economic theory could teach general equilibrium theory with such clarity and authority. The book is gracefully written and rigorous, and does an elegant job of situating competitive equilibrium theory in the economic and mathematical traditions from which it evolved."--Robert E. Lucas, Jr., John
Dewey Distinguished Service Professor, The University of Chicago, Nobel Laureate in Economic
Sciences (1995)

The MIT Press

"Barro and Sala-i-Martin provide an outstanding and comprehensive treatment of growth theory and empirics -- an instant classic! I learn something new every time I pull my copy from the shelf."--Charles I. Jones, Department of Economics, University of California, Berkeley

The MIT Press

"*Contract Theory* is certainly the most important textbook on the frontiers of microeconomics since Tirole's celebrated *Theory of Industrial Organization*. Bolton and Dewatripont have done a marvelous job of providing an exhaustive account of the field, using only very simple and self-contained models and relying on a whole battery of economic applications. All this contributes to making the book not only the unavoidable teaching and research reference on contract theory, but also a unique tribute to economics at its best."--Philippe Aghion, Department of
Economics, Harvard University

The MIT Press

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Product Details

  • ISBN-13: 9780070036970
  • Publisher: McGraw-Hill Companies, The
  • Publication date: 12/28/1994
  • Series: Mcgraw-Hill Advanced Series in Economics
  • Edition number: 1
  • Pages: 539
  • Product dimensions: 6.61 (w) x 9.54 (h) x 1.01 (d)

Meet the Author

Robert J. Barro is Robert C. Waggoner Professor of Economics at Harvard University and a senior fellow of the Hoover Institution at Stanford University.

About Robert Barro:

"He has changed the way economists think about everything from the long-run effects of government deficits to the forces that favor economic growth."

--Sylvia Nasar, New York Times

Xavier Sala-i-Martin is Professor of Economics at Columbia University, and visiting professor at the University of Pompeu Fabra, Barcelona.

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Table of Contents

Preface
About the Authors
Introduction 1
1 Growth Models with Exogenous Saving Rates (the Solow-Swan Model) 23
2 Growth Models with Consumer Optimization (the Ramsey Model) 85
3 Extensions of the Ramsey Growth Model 143
4 One-Sector Models of Endogenous Growth 205
5 Two-Sector Models of Endogenous Growth (with Special Attention to the Role of Human Capital) 239
6 Technological Change: Models with an Expanding Variety of Products 285
7 Technological Change: Schumpeterian Models of Quality Ladders 317
8 The Diffusion of Technology 349
9 Labor Supply and Population 383
10 Growth Accounting 433
11 Empirical Analysis of Regional Data Sets 461
12 Empirical Analysis of a Cross Section of Countries 511
App On Mathematical Methods 567
References 627
Index 641
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