THE SOLOW¡¯S MODEL WITH ENDOGENOUS POPULATION: A NEOCLASSICAL GROWTH CYCLE MODEL

Luciano Fanti and Piero Manfredi ()
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Piero Manfredi: Dipartimento di Scienze Economiche and Dipartimento di Statistica e Matematica Applicata all Economia

Journal of Economic Development, 2003, vol. 28, issue 2, 103-115

Abstract: It is shown here that the Solow (1956) neo-classical growth paradigm not only explains the ¡°first¡± stylised fact of economic growth, namely the existence of a globally stable state of balanced growth, but, once endowed with a demographically founded formulation of the labour supply, is also capable to endogenously explain a second main stylised fact of growth, i.e., the generation of globally stable oscillations around the path of balanced growth.

Keywords: Solow¡¯s Balanced Growth Model; Endogenous Population; Neoclassical Growth-Cycle Model (search for similar items in EconPapers)
JEL-codes: E3 J0 (search for similar items in EconPapers)
Date: 2003
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Citations: View citations in EconPapers (19)

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Persistent link: https://EconPapers.repec.org/RePEc:jed:journl:v:28:y:2003:i:2:p:103-115

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