| Autor: |
Fernando de Holanda Barbosa, Luiz Antônio Lima Júnior |
| Rok vydání: |
2020 |
| Předmět: |
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| Zdroj: |
Workbook for Macroeconomic Theory ISBN: 9783030615475 |
| DOI: |
10.1007/978-3-030-61548-2_4 |
| Popis: |
The aim of the economic growth theory is to explain the causes that determine the level and growth rate of labor productivity. This theory must be able to explain Kaldor’s stylized facts: (i) the productivity of labor has been growing systematically; (ii) the capital to labor ratio has been growing over time; (iii) the rate of return on capital has been reasonably constant; (iv) the capital to output ratio has not changed over time; (v) the shares of labor and capital in output have not been showing upwards or downwards trends; (vi) the growth rate of the productivity of labor has been varying from one country to another. The Solow model introduced in this chapter attempts to explain these facts. |
| Databáze: |
OpenAIRE |
| Externí odkaz: |
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