Technical Progress in the Theory of Economic Growth

Philippe Aghion and Peter Howitt
Additional contact information
Philippe Aghion: Nuffield College, Oxford University
Peter Howitt: Institut d’Économie Industrielle, Université Des Sciences Sociales

Chapter 5 in Economics in a Changing World, 1995, pp 101-122 from Palgrave Macmillan

Abstract: Abstract Economics is now experiencing the second post-war wave of neo-classical growth theory. This wave has brought relief to those tired of the sterile debates that have plagued macroeconomic theory for so long. Unlike Keynesianism, monetarism, new classicism and real business cycle theory, the endogenous growth movement has not divided the discipline of macroeconomics into two opposing camps. Instead, there has been an almost total absence of controversy, and a coming together of previously incompatible schools of macroeconomists, all of whom are now addressing the same topic with the same class of models. Instead of greeting endogenous growth theory with dogmatic resistance, the macroeconomics profession embraced it almost as soon as Romer’s (1986) seminal contribution appeared in print.

Keywords: Endogenous Growth; Technical Progress; Intermediate Good; Growth Theory; Endogenous Growth Model (search for similar items in EconPapers)
Date: 1995
References: Add references at CitEc
Citations: View citations in EconPapers (2)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-349-23953-5_5

Ordering information: This item can be ordered from
http://www.palgrave.com/9781349239535

DOI: 10.1007/978-1-349-23953-5_5

Access Statistics for this chapter

More chapters in International Economic Association Series from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().