Chaos and Evolution in Economic Processes

Richard H. Day and Ester Boserup

Chapter 14 in Nonlinearities, Disequilibria and Simulation, 1992, pp 261-278 from Palgrave Macmillan

Abstract: Abstract The Tinbergen-Solow-Swan growth model set forth nearly four decades ago was motivated by a striking stylized fact: if relatively short-run fluctuations are disregarded, the time series of measured aggregate output for the various industrial countries display a remarkably stable rate of growth. The theory produced exponential trends and, when augmented by a constant rate of technological improvement, exhibited paths of output that fitted the data extremely well.2

Keywords: Production Function; Technological Level; Economic Unit; Exhaustible Resource; Adult Equivalent (search for similar items in EconPapers)
Date: 1992
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DOI: 10.1007/978-1-349-12227-1_14

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