http://www.loc.gov/mods/v3 http://www.loc.gov/standards/mods/v3/mods-3-2.xsd
1 online resource (x, 216 pages 136 illustrations)
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 stock 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.
Small Open Economy: Solow Model -- Overlapping Generations -- Infinite Horizon -- Two Countries: Different Saving Rates (Overlapping Generations) -- Different Saving Rates (Solow Model) -- Technical Progress Abroad (Solow Model) -- Different Rates of Labour Growth (Overlapping Generations) -- Imperfect Capital Mobility: Solow Model (Fixed Debt Ratio) -- Overlapping Generations -- Infinite Horizon (Fixed Debt Ratio) -- Labour Mobility: Introducing Labour Mobility -- Different Rates of Labour Growth -- Fixed Wage Rate: Closed Economy -- Perfect Capital Mobility -- Imperfect Capital Mobility -- Land as Immobile Factor -- Engogenous Growth: Closed Economy -- Small Open Economy -- Two Countries -- Infinite Horizon.