Coordination Issues in Long-Run Growth

Peter Howitt

Chapter 35 in Handbook of Computational Economics, 2006, vol. 2, pp 1605-1624 from Elsevier

Abstract: Economic growth depends not only on how people make decisions but also upon how their decisions are coordinated. Because of this, aggregate outcomes can diverge from individual intentions. I illustrate this with reference to the modern literature on economic growth, and also with reference to an older literature on the stability of full-employment equilibrium. Agent-based computational methods are ideally suited for studying the aspects of growth most affected by coordination issues.

JEL-codes: C63 (search for similar items in EconPapers)
Date: 2006
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Citations: View citations in EconPapers (8)

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