More on Growth Dynamics: Endogenous Growth and Beyond

Orlando Gomes

Chapter Chapter 4 in Intertemporal and Strategic Modelling in Economics, 2022, pp 83-108 from Springer

Abstract: Abstract Whether assuming exogenous savings or optimal intertemporal plans, the neoclassical growth model attributes to exogenous factors the process of growth. In this interpretation, the factors that eventually boost growth (e.g., innovation or education) are maintained inside a black box. Endogenous growth models are a class of growth models that explores the main determinants of sustained growth within the modeling framework. This chapter explores models of endogenous growth, with human capital and technology being the fundamental sources of sustained growth. The chapter also discusses a few other models that shed light on such relevant topics as the implications of automation to growth and the impact of agent heterogeneity regarding the accumulation of wealth and intertemporal consumption choices.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:lnechp:978-3-031-09600-6_4

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DOI: 10.1007/978-3-031-09600-6_4

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