This book presents a macroeconomic dynamic model à la Solow-Swan, including the market for labor, in a discrete time structure. The model is expanded to include expenditure on R&D and public expenditure on infrastructure. For each of the three models the results are shown in time series figures, which demonstrate that even small changes in the parameters produce responses in the time behavior of the main variables: from steady growth, to regular cycles, to chaotic-like time paths.
Basics: Foundations of Macroeconomic Dynamics.- Population Dynamics and the Labour Market.- Production Functions.- Simple Dynamic Macromodels: A Model Without R & D and Public Expenditure.- Some Determinants of Endogenous Growth.- Public Expenditure and Taxes.- Computer Simulations: Stationary Population: Cobb-Douglas Simulations.- Stationary Population: CES Simulations.- Stationary Population: Leontief Simulations.- Steady Growing Population.- Logistic Growing Population.- Effects of Public Expenditure.- Material Welfare Comparisons.
Overview
This book presents a macroeconomic dynamic model à la Solow-Swan, including the market for labor, in a discrete time structure. The model is expanded to include expenditure on R&D and public expenditure on infrastructure. For each of the three models the results are shown in time series figures, which demonstrate that even small changes in the parameters produce responses in the time behavior of the main variables: from steady growth, to regular cycles, to chaotic-like time ...