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	NationMaster - Encyclopedia: Robert Solow
		Solow's model of economic growth, often known as the neo-classical growth model, allows the determinants of economic growth to be separated out into increases in inputs (labour and capital) and technical progress.
		Exogenous growth model, also known as the Neo-classical model or Solow growth model is a term used to sum up the contributions of various authors to a model of long-run economic growth within the framework of neoclassical economics.
		Solow’s essential argument is that the poorest members of society should not be guaranteed a dole, but instead be guaranteed a job that pays them enough for them to live on, including the cost of adequate job training, child care and health care.
	www.nationmaster.com /encyclopedia/Robert-Solow (1095 words)

	Robert M. Solow - Prize Lecture
		Growth theory, like much else in macroeconomics, was a product of the depression of the 1930s and of the war that finally ended it.
		If the condition for steady growth is that the savings rate equal the product of the growth rate of employment and a technologically-determined capital-output ratio, then a recipe for doubling the rate of growth in a labor surplus economy was simply to double the savings rate, perhaps through the public budget.
		The growth of "capital" accounts for 12 percent of the growth of output; this is coincidentally almost exactly what I found for 1909-1949 using my original method, of which Denison's is in some ways a practical refinement.
	nobelprize.org /nobel_prizes/economics/laureates/1987/solow-lecture.html (8246 words)

	The Prize in Economics 1987 - Press Release
		Solow's growth model was presented in an article entitled, A Contribution to the Theory of Economic Growth (1956).
		Solow proves, however, that if corporations had perfect foresight and if the labor and capital markets function satisfactorily, corporations will wish to invest to the extent that their total investment plans correspond to the given value of savings.
		Solow studied this question from a theoretical perspective in an article published in 1974 and found that the key to this problem lay in assumptions made about the substitution elasticity for capital and natural resource inputs.
	nobelprize.org /nobel_prizes/economics/laureates/1987/press.html (1477 words)

	A43 Chapter 4. Solow's Neoclassical Growth Model
		Because the Solow model treats saving, population growth, and technological progress as exogenous (i.e., it cannot explain why they are what they are or how economic policy might be able to influence them), the need is "to endogenize" (determine within the model) the rates of saving, population growth, and technological progress.
		The Solow assumption that population (and hence the labor force) is constant is unrealistic.
		The Solow model is similar to both the Smith and Schumpeter models in that technological progress is the source of long-run economic growth, but unlike them it treats technology as an exogenous variable.
	facweb.furman.edu /~dstanford/a43/a43mp4.htm (1607 words)

	The Solow-Swan Growth Model
		In the Harrod-Domar growth model, steady-state growth was unstable.
		In fact, they proposed a growth model where the capital-output ratio, v, was precisely the adjusting variable that would lead a system back to its steady-state growth path, i.e.
		James Tobin (1955) introduced a growth model similar to Solow-Swan which also included money (and thus a predecessor of the monetary growth theory).
	cepa.newschool.edu /het/essays/growth/neoclass/solowgr.htm (1351 words)

	A43 Chapter 4. SOLOW'S NEOCLASSICAL GROWTH MODEL
		Solow's model was a response to the H-D model and its weaknesses, especially its assumption of a constant capital-output ratio with a linear relationship between saving and growth.
		Because Solow incorporated "marginalist thinking" of the 19th century neoclassical economists, it is often referred to as a neoclassical growth model [what actually makes it a neoclassical model is its conclusion that, ceteris paribus, an economy will settle into a stationary state].
		The Solow model appears to justify policies to reduce population growth because a lower n implies a higher steady-state level of per capita income, assuming that children add nothing to people's welfares [all bets are off if children are a source of welfare].
	facweb.furman.edu /~dstanford/a43/a43chapter4.htm (4430 words)

	Economic Growth in Africa
		Solow developed the idea that economic growth is an outcome of capital accumulation.
		Where gy is the growth of real per-capita GDP during some period, ln(y0) is the natural logarithm of the initial level of per-capita GDP, and Ix are the instruments which will be explained in a later section.
		In developed countries, rapid population growth resulting from more babies being born would dampen economic growth in the years before the children join the workforce as they are educated and their human capital is built up.
	gssq.entori.net /writings/academic/africa_growth.htm (1438 words)

	Intermediate Macroeconomics - Long-Run Economic Growth
		Growth in multifactor productivity represents an increase in output that results from improvements in production processes, whether due to improvements in the quality of capital (such as from new technology) or improvements in the quality of labor (such as from better education or training), with the quantities of all inputs unchanged.
		Growth models do not assume households have more or fewer children as a country becomes poorer or wealthier (although the rate of population increase is generally lower in wealthier nations).
		Because growth in output and the standard of living is a function of the savings rate and human capital, the endogenous growth model provides a role for government policy that was absent in the neoclassical model.
	mason.gmu.edu /~tlidderd/311/ch3Lect.html (8786 words)

	Robert Merton Solow, Biography: The Concise Encyclopedia of Economics: Library of Economics and Liberty
		His first major paper on growth was "A Contribution to the Theory of Growth." In it he presented a mathematical model of growth that was a version of the Harrod-Domar growth model (see Harrod).
		Solow followed shortly after with another pioneering article, "Technical Change and the Aggregate Production Function." Before that article economists had believed that the main causes of economic growth were increases in capital and labor.
		Solow also was the first to develop a growth model with different vintages of capital.
	www.econlib.org /library/Enc/bios/Solow.html (491 words)

	Macroeconomics Chapter 5 -- Multiple Choice Questions - Exam 2
		Suppose in the Solow model that instead of diminishing marginal productivity of capital there were constant returns to capital.
		Suppose in the Solow growth model the economy converges to a steady state and the saving rate, the population growth rate, and the level of technology are all constant.
		In the context of the Solow growth model suppose a country increases its rate of immigration.
	cw.prenhall.com /bookbind/pubbooks/colander2/chapter5/multiple2/deluxe-content.html (398 words)

	Poverty Traps
		As such, growth theorists have searched for ways of modifying the Solow-Swan growth model to explain why some countries do so well and others do so poorly.
		Dynamized into a growth context, this highlights the importance of externalities and increasing returns to scale in generating and sustaining an accelerated rate of growth.
		Following Robert Malthus (1798), it was posited that the rate of growth of population is dependent on income per capita.
	cruel.org /econthought/essays/growth/neoclass/solowtrap.html (1533 words)

	Economics Interactive
		Solow, a dedicated pragmatist, asserts that economics is a science with a small ‘s’, not a capital one, because the science of economics must respect facts and conform to reality.
		A native of Brooklyn born on August 23, 1924, Solow is dismayed at the current crop of cutting-edge theorists, whom he views as too often attempting to explain all economic realities with excessively abstract and simplistic, though highly mathematical, models.
		The Solow growth model, currently the dominant framework for analysis of economic growth and development, suggests that an equilibrium growth path is achieved when capital and population increase at roughly similar rates.
	www.unc.edu /depts/econ/byrns_web/EC434/HET/Nobels/solow.htm (610 words)

	Adjustment Processes: Solow vs. Harrod
		This is certainly what Solow insinuated, arguing that the "bulk of this paper is devoted to a model of long-run growth which accepts all the Harrod-Domar assumptions except that of fixed proportions." (Solow, 1956: p.66).
		Interestingly, the kind of modifications to the Solow-Swan growth model that "endogenous growth theory" has proposed in recent years turn out to generate a reduced-form dynamical system that is virtually identical to the Harrod-Domar model.
		Thus, the Solow-Swan growth model is "Neoclassical" in every respect, and not an extension of "Keynesian" macroeconomics, as has occasionally been advertised.
	cruel.org /econthought/essays/growth/neoclass/solowadjust.html (1750 words)

	Solow growth model
		We will examine how the model works when growth comes through capital accumulation, and how it works when growth is due to innovation.
		Growth will be very strong when countries first begin to accumulate capital, and will slow down as the process of accumulation continues.
		The US growth rate was lower, at least on a per capita basis, in the 19th century than in the twentieth century.
	www.pitt.edu /~mgahagan/Solow.htm (1058 words)

	Centre International de Recherche sur l'Environnement et le Développement - The NEDyM model
		Its dynamic core is akin to the classical Solow growth model, picturing an economy with one representative producer, one representative customer, and one good used both for consumption and investment.
		The Solow growth model is composed of a static core and of a dynamic relationship describing the capital dynamics.
		NEDyM is, therefore, a dynamic model strictly equivalent to the Solow growth model over the long term or when perturbed by slowly varying parameter changes.
	www.centre-cired.fr /forum/spip_cookie.php3?url=%2Fforum%2Frubrique71.html&var_lang=en (250 words)

	Termpapers on Government in the Solow growth model Foreign aid in the Solow model
		Government in the Solow growth model Foreign aid in the Solow model
		A.Government in the Solow growth model 1.Why is the equilibrium condition now sp + sg = I? We work with following assumptions: 1.
		So it is recommendable to provide foreign aid in form of technical assistance (technology trans-fer) rather than transferring money since the investment opportunities of the receiving countries may not be existing or the political environment may not allow to invest the money in the best way.
	www.custompapers.net /research/Government_in_the_Solow_growth-157078.html (227 words)

	Solow growth model - neoclassical growth model
		The Solow model, or the Neoclassical growth model, as it is also called, is another work horse of macroeconomics.
		At the core of the Solow model is the 3D production function that employs capital and labour as inputs.
		The standard graph used to represent the Solow growth model is in two dimensions.
	www.fgn.unisg.ch /eurmacro/Tutor/solow_index.html (289 words)

	Principles of Macroeconomics: Section 15 (Site not responding. Last check: 2007-09-10)
		The model is used to describe the attributes of supply side economic growth that has been previously shown in this course as an expansion of a country's production possibilities frontier or its aggregate supply curve.
		Steady state economic growth assumes that the capital/labor ratio remains fairly constant and growth results from better capital leading to increases in worker productivity and increases in the labor force.
		Recognize that for economies with low or negative economic growth, special attention must be paid to economic and social circumstances to encourage improved economic expansion.
	www.colorado.edu /Economics/courses/econ2020/section15/section15.html (469 words)

	Federal Reserve Bank of Minneapolis-The Region- Robert Solow Interview (September 2002) (Site not responding. Last check: 2007-09-10)
		Solow's model fundamentally changed economic analysis, providing “a framework within which modern macroeconomic theory can be structured,” according to the Royal Swedish Academy of Sciences, which selected Solow as the 1987 recipient of the Nobel prize in economics.
		I thought from the very beginning that the so-called AK models [which assume that output is the product of capital, K, and a constant positive level of technology, A] were not only foolish but dangerous, in the sense that they would suggest to economists that they understood something that they didn't.
		SOLOW: Exactly, and the reason is that if you want to talk about “the rate of growth” as an independent intellectual object, you need a linearity assumption; but talking about a rate of growth as an object may itself be an interference with intellectual progress.
	minneapolisfed.org /pubs/region/02-09/solow.cfm (7800 words)

	Solow Growth Dynamics and East Asia (Site not responding. Last check: 2007-09-10)
		An important issue is the extent to which growth in the high performance East Asian economies represents a transition between growth paths and the extent to which it represents an increase in the sustainable growth rate.
		The sharp increases in savings and investment rates and the reductions in the workfore growth rates are consistent with an upward shift of the growth path and a temporary increase in the growth rate.
		The relatively low rate of technical progress in the high performance East Asian economies raises concern that the sustainable growth rate may be significantly lower than this transitional growth rate.
	www.galbithink.org /topics/ea/sgd.htm (427 words)

	International Economics & Finance term papers and term papers - 005-090
		This is a 4 page paper discussing economic growth and the Solow growth model.
		Robert Solow’s growth model emphasizes all of the aspects of the importance of economic growth within a society.
		The Solow growth model basically defines the conditions of different nations’ approach to an equilibrium level of capital stock (a steady-state).
	www.nocheaters.com /categories/005-090.html (338 words)

	Chapter 4: Economic Growth
		The Solow model assumes that the supply of goods and services depends upon a production function with constant returns to scale.
		The Solow model assumes that the demand for goods depends upon consumption and investment.
		Solow explains technological progress as the residual between the rate of growth in output and the amount explained by the rate of growth in capital and the rate of growth in labor inputs.
	business.baylor.edu /Tom_Kelly/MANKIW4-5.htm (878 words)

	[No title]
		The Solow model does not even, strictly speaking, predict that in a given year, when we look at data for all countries in the world (say), we will find that poor countries tend to be growing faster than rich ones.
		The Solow model implies that countries can be poor either because they have a low value of k relative to , or because they have a low value of .
		The Solow model predicts that poor countries grow faster than rich countries only if the differences among countries in their levels of are not systematically negatively related to their levels of .
	www.princeton.edu /~sims/IntMacro/solow.doc (2282 words)

	Principles of Macroeconomics: Section 15 Main
		For a developed economy like the United States, the steady-state growth model indicates that total savings is sufficient to replace depreciated capital, equip new workers with the same capital as all other workers to maintain a constant capital-labor ratio, and update the capital stock to new technology.
		As the growth model indicates, when there is positive net investment, the rate of net investment (the change in k) adds to the annual rate of growth.
		From this point in Figure 15-1, the population growth rate and the labor force growth rate, n, is reduced.
	www.colorado.edu /Economics/courses/econ2020/section15/section15-main.html (1889 words)

	solow growth model: researchpapersdownload.com- download great research papers, download excellent term papers, ...
		Solow RM, 'A Contribution to the Theory of Economic Growth', Quarterly Journal of Economics, 70, 1956.
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	www.researchpapersdownload.com /term-papers/690753/solow-growth-model.html (392 words)

	EconPapers: Closed form solutions to a generalization of the Solow growth model
		This is not a realistic assumption because, exponential growth implies that population increases to infinity as time tends to infinity.
		This model utilizes three hypotheses about human population growth: (1) when population size is small, growth is exponential; (2) population is bounded; and (3) the rate of population growth decreases to zero as time tends toward infinity.
		After making this substitution, the generalized Solow model is then solved in closed form, demonstrating that the intrinsic rate of population growth does not influence the long-run equilibrium level of capital per worker.
	econpapers.repec.org /paper/wpawuwpge/0510003.htm (284 words)

	S-WoPEc: On the Causality between GDP and Health Care Expenditure in Augmented Solow Growth Model
		It presents estimation of the augmented Solow growth model suggested by Mankiw, Romer and Weil (1992) to explain variation in output and expenditure per capita across countries.
		This paper is an extension of the MRW model by incorporating health capital proxied by HCE to the augmented Solow model.
		In the HCE model a regression of the speed of convergence on variables determining the rate of convergence show close link to the variables characterizing the health care system of sample countries.
	swopec.hhs.se /hastef/abs/hastef0423.htm (402 words)

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