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Rethinking the Concept of Long-Run Economic Growth

Christian Groth (), Karl-Josef Koch () and Thomas Steger ()

No 06-06, Discussion Papers from University of Copenhagen. Department of Economics

Abstract: This paper argues that growth theory needs a more general “regularity” concept than that of exponential growth. This opens up for considering a richer set of parameter combinations than in standard growth models. Allowing zero population growth in the Jones (1995) model serves as our illustration of the usefulness of a general concept of “regular growth”.

Keywords: exponential growth; arithmetic growth; regular growth; semi-endogenous growth; knife-edge restrictions (search for similar items in EconPapers)
JEL-codes: O31 O40 O41 (search for similar items in EconPapers)
Pages: 8 pages
Date: 2006-03
New Economics Papers: this item is included in nep-dev and nep-dge
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Persistent link: https://EconPapers.repec.org/RePEc:kud:kuiedp:0606

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