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International Economic Growth

Overview

This book deals with international growth, featuring the dynamics of foreign debt and domestic capital. It proves useful to consider the Solow model, the overlapping generations model and the infinite horizon model. Phase diagrams serve to trace out the processes of adjustment induced by various shocks. Take for instance an increase in the saving rate, a rise in the rate of labour growth, or a one-time technical progress. What will be the effects on the balance of payments, the foreign position, the sk of ...

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Overview

This book deals with international growth, featuring the dynamics of foreign debt and domestic capital. It proves useful to consider the Solow model, the overlapping generations model and the infinite horizon model. Phase diagrams serve to trace out the processes of adjustment induced by various shocks. Take for instance an increase in the saving rate, a rise in the rate of labour growth, or a one-time technical progress. What will be the effects on the balance of payments, the foreign position, the sk of capital, and consumption? The first chapter is concerned with the small open economy, chapter II is on large countries. In chapter III capital mobility is restricted, in chapter IV labour mobility is introduced, in chapter V wages are fixed, and in chapter VI growth becomes endogenous.

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Product Details

  • ISBN-13: 9783790809954
  • Publisher: Physica-Verlag HD
  • Publication date: 5/28/1997
  • Series: Contributions to Economics Series
  • Edition description: Softcover reprint of the original 1st ed. 1997
  • Edition number: 1
  • Pages: 216

Table of Contents

Brief Survey of the Literature.- I. Small Open Economy.- 1. Solow Model.- 1.1. Foreign Assets.- 1.1.1. Steady State.- 1.1.2. Process of Adjustment.- 1.2. Foreign Debt.- 1.3. Assets.- 1.4. Numerical Example.- 1.5. Delayed Adjustment of Capital Sk.- 1.6. Technical Progress at Home.- 2. Overlapping Generations.- 3. Infinite Horizon.- II. Two Countries.- 1. Different Saving Rates (Overlapping Generations).- 1.1. Steady State.- 1.2. Process of Adjustment.- 2. Different Saving Rates (Solow Model).- 2.1. Steady State.- 2.2. Introducing Capital Mobility.- 3. Technical Progress Abroad (Solow Model).- 3.1. Steady State.- 3.2. Process of Adjustment.- 4. Different Rates of Labour Growth (Overlapping Generations).- 4.1. Steady State.- 4.2. Process of Adjustment.- III. Imperfect Capital Mobility.- 1. Solow Model (Fixed Debt Ratio).- 1.1. Steady State.- 1.2. Process of Adjustment.- 2. Overlapping Generations.- 2.1. Fixed Debt Ratio.- 2.2. Endogenous Interest Rate.- 3. Inifinite Horizon (Fixed Debt Ratio).- IV. Labour Mobility.- 1. Introducing Labour Mobility.- 1.1. Model.- 1.2. Numerical Example.- 2. Different Rates of Labour Growth.- V. Fixed Wage Rate.- 1. Closed Economy.- 2. Perfect Capital Mobility.- 3. Imperfect Capital Mobility.- 4. Land as Immobile Factor.- VI. Endogenous Growth.- 1. Closed Economy.- 2. Small Open Economy.- 3. Two Countries.- 4. Infinite Horizon.- Conclusion.- Result.- Symbols.- References.

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