Some Macroeconomics for the 21st Century

Robert Lucas

Journal of Economic Perspectives, 2000, vol. 14, issue 1, 159-168

Abstract: This note describes a numerical simulation of a model of economic growth, a simplified version of Robert Tamura's (1996) model of world income dynamics, based on technology diffusion. The model makes predictions for trends in average world income growth and about the evolution of the relative income distribution that accord well with observation. The model is used to forecast the course of world income growth and income inequality over the century to come.

JEL-codes: A11 E00 O40 (search for similar items in EconPapers)
Date: 2000
Note: DOI: 10.1257/jep.14.1.159
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Citations: View citations in EconPapers (190)

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