Four stylised facts of aggregate economic growth are set up initially. The growth process is interpreted to represent transitional dynamics rather than balanced-growth equilibria. Against this background, the fundamental importance of subsistence consumption is comprehensively analysed. Subsequently, the meaning of the productive-consumption hypothesis for the intertemporal consumption trade-off and the growth process is investigated. Finally, the process of growth is analysed empirically by means of cross-sectional conditional convergence regressions with endogenous control variables.
| Autorius: | Thomas Steger |
| Serija: | Lecture Notes in Economics and Mathematical Systems |
| Leidėjas: | Springer Berlin Heidelberg |
| Išleidimo metai: | 2000 |
| Knygos puslapių skaičius: | 168 |
| ISBN-10: | 3540675639 |
| ISBN-13: | 9783540675631 |
| Formatas: | Knyga minkštu viršeliu |
| Kalba: | Anglų |
| Žanras: | Macroeconomics |
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