1106:(TFP) during a particular time period. The increase in TFP is often attributed entirely to technological progress, but it also includes any permanent improvement in the efficiency with which factors of production are combined over time. Implicitly TFP growth includes any permanent productivity improvements that result from improved management practices in the private or public sectors of the economy. Paradoxically, even though TFP growth is exogenous in the model, it cannot be observed, so it can only be estimated in conjunction with the simultaneous estimate of the effect of capital accumulation on growth during a particular time period.
51:
4939:) growth in the Solow–Swan model is the residual after accounting for capital accumulation. The Mankiw, Romer, and Weil model provide a lower estimate of the TFP (residual) than the basic Solow–Swan model because the addition of human capital to the model enables capital accumulation to explain more of the variation in income across countries. In the basic model, the TFP residual includes the effect of human capital because human capital is not included as a factor of production.
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1006:. Although this has become the canonical and celebrated story in the history of economics, featured in many economic textbooks, recent reappraisal of Harrod's work has contested it. One central criticism is that Harrod's original piece was neither mainly concerned with economic growth nor did he explicitly use a fixed proportions production function.
4968:, a country which was once relatively poor, has converged to the level of the rich countries. Japan experienced high growth rates after it raised its savings rates in the 1950s and 1960s, and it has experienced slowing growth of output/worker since its savings rates stabilized around 1970, as predicted by the model.
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Since the marginal product of physical capital is not higher in poor countries than in rich countries, the implication is that productivity is lower in poor countries. The basic Solow model cannot explain why productivity is lower in these countries. Lucas suggested that lower levels of human capital
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equilibrium and that permanent growth of per capita income is achievable only through technological progress. Both shifts in saving and in population growth cause only level effects in the long-run (i.e. in the absolute value of real income per capita). An interesting implication of Solow's model is
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towards the income levels of rich countries if the poor countries have similar savings rates for both physical capital and human capital as a share of output, a process known as conditional convergence. However, savings rates vary widely across countries. In particular, since considerable financing
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The Solow–Swan model was an extension to the 1946 Harrod–Domar model that dropped the restrictive assumption that only capital contributes to growth (so long as there is sufficient labor to use all capital). Important contributions to the model came from the work done by Solow and by Swan in 1956,
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In a growing economy, capital is accumulated faster than people are born, so the denominator in the growth function under the MFP calculation is growing faster than in the ALP calculation. Hence, MFP growth is almost always lower than ALP growth. (Therefore, measuring in ALP terms increases the
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Theodore Breton provided an insight that reconciled the large effect of human capital from schooling in the Mankiw, Romer and Weil model with the smaller effect of schooling on workers' salaries. He demonstrated that the mathematical properties of the model include significant external effects
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Assuming for simplicity no technological progress or labor force growth, diminishing returns implies that at some point the amount of new capital produced is only just enough to make up for the amount of existing capital lost due to depreciation. At this point, because of the assumptions of no
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He showed that the large estimates of the effect of human capital in cross-country estimates of the model are consistent with the smaller effect typically found on workers' salaries when the external effects of human capital on physical capital and labor are taken into account. This insight
3448:
have a higher marginal product, which would provide a higher return on capital investment. As a consequence, the model predicts that in a world of open market economies and global financial capital, investment will flow from rich countries to poor countries, until capital/worker
1049:
who claimed that both the non-randomness of the sampled countries, and potential for significant measurement errors for estimates of real income per capita in 1870, biased Baumol's findings. DeLong concludes that there is little evidence to support the convergence theory.
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Since the 1950s, output/worker in rich and poor countries generally has not converged, but those poor countries that have greatly raised their savings rates have experienced the income convergence predicted by the Solow–Swan model. As an example, output/worker in
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Assuming non-zero rates of labor growth complicate matters somewhat, but the basic logic still applies – in the short-run, the rate of growth slows as diminishing returns take effect and the economy converges to a constant "steady-state" rate of growth (that is,
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1127:) is output divided by a weighted average of capital and labor inputs. The weights used are usually based on the aggregate input shares either factor earns. This ratio is often quoted as: 33% return to capital and 67% return to labor (in Western nations).
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between the factors of production, because human capital and physical capital are multiplicative factors of production. The external effect of human capital on the productivity of physical capital is evident in the marginal product of physical capital:
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The Solow model is also one of the most widely used models in economics to explain economic growth. Basically, it asserts that outcomes on the "total factor productivity (TFP) can lead to limitless increases in the standard of living in a country."
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significantly strengthens the case for the Mankiw, Romer, and Weil version of the Solow–Swan model. Most analyses criticizing this model fail to account for the pecuniary external effects of both types of capital inherent in the model.
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3703:, that can explain the failure of international investment to flow to poor countries. In this model output and the marginal product of capital (K) are lower in poor countries because they have less human capital than rich countries.
3649:
5828:{\displaystyle {\dot {k}}(t)={\frac {{\dot {K}}(t)}{A(t)L(t)}}-{\frac {K(t)}{^{2}}}={\frac {{\dot {K}}(t)}{A(t)L(t)}}-{\frac {K(t)}{A(t)L(t)}}{\frac {{\dot {L}}(t)}{L(t)}}-{\frac {K(t)}{A(t)L(t)}}{\frac {{\dot {A}}(t)}{A(t)}}}
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2060:, the derivative with respect to time. Derivative with respect to time means that it is the change in capital stock—output that is neither consumed nor used to replace worn-out old capital goods is net investment.
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attempted to verify this empirically and found a very strong correlation between a countries' output growth over a long period of time (1870 to 1979) and its initial wealth. His findings were later contested by
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did not seem consistent with accepted estimates of the effect of increases in schooling on workers' salaries. Though the estimated model explained 78% of variation in income across countries, the estimates of
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The per-capita income levels of the southern states of the United States have tended to converge to the levels in the
Northern states. The observed convergence in these states is also consistent with the
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1980:
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Including non-zero technological progress is very similar to the assumption of non-zero workforce growth, in terms of "effective labor": a new steady state is reached with constant output per
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5010:" has produced the surprising result that although output per worker has been rising, almost none of their rapid growth had been due to rising per-capita productivity (they have a low "
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as a "crucial assumption" to the instability results in the Harrod-Domar model. His own work expands upon this by exploring the implications of alternative specifications, namely the
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937:
stock of capital. Due to its particularly attractive mathematical characteristics, Solow–Swan proved to be a convenient starting point for various extensions. For instance, in 1965,
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Efficient allocation of international capital flows, since the rate of return on capital should be higher in poorer countries. In practice, this is seldom observed and is known as
6598:
Cass endogenizes the savings rate by explicitly modeling the consumer’s decision to consume and save. This is done by adding a household optimization problem to the Solow model.
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2058:
2514:
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constraints exist for investment in schooling, savings rates for human capital are likely to vary as a function of cultural and ideological characteristics in each country.
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for his work. Today, economists use Solow's sources-of-growth accounting to estimate the separate effects on economic growth of technological change, capital, and labor.
6369:{\displaystyle {\dot {k}}(t)=s{\frac {Y(t)}{A(t)L(t)}}-\delta {\frac {K(t)}{A(t)L(t)}}-n{\frac {K(t)}{A(t)L(t)}}-g{\frac {K(t)}{A(t)L(t)}}=sy(t)-\delta k(t)-nk(t)-gk(t)}
2012:
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4753:
1728:
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2099:
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5359:{\displaystyle y(t)={\frac {Y(t)}{A(t)L(t)}}={\frac {K(t)^{\alpha }(A(t)L(t))^{1-\alpha }}{A(t)L(t)}}={\frac {K(t)^{\alpha }}{(A(t)L(t))^{\alpha }}}=k(t)^{\alpha }}
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Therefore, at the equilibrium, the capital/output ratio depends only on the saving, growth, and depreciation rates. This is the Solow–Swan model's version of the
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as physical capital. For simplicity, they assume the same function of accumulation for both types of capital. Like in Solow–Swan, a fraction of the outcome,
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is the fraction of income appropriated by capital. Thus, the Solow–Swan model assumes from the beginning that the labor-capital split of income is constant.
2898:
767:
3712:
3012:, regardless of its starting point. In this situation, the growth of output per worker is determined solely by the rate of technological progress.
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852:
7011:
Litina, Anastasia; Palivos, Theodore (2008). "Do Inada conditions imply that production function must be asymptotically Cobb–Douglas? A comment".
1003:
7609:
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Haines, Joel D.; Sharif, Nawaz M. (2006). "A framework for managing the sophistication of the components of technology for global competition".
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In the Solow–Swan model the unexplained change in the growth of output after accounting for the effect of capital accumulation is called the
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concept. Whether absolute convergence between countries or regions occurs depends on whether they have similar characteristics, such as:
1027:
Lags in the diffusion on knowledge. Differences in real income might shrink as poor countries receive better technology and information;
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The model can be reformulated in slightly different ways using different productivity assumptions, or different measurement metrics:
3125:
1904:
1085:. However, in this case, per-capita output grows at the rate of technological progress in the "steady-state" (that is, the rate of
1066:
Given a fixed stock of labor, the impact on output of the last unit of capital accumulated will always be less than the one before.
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2255:, the capital stock per unit of effective labour. Its behaviour over time is given by the key equation of the Solow–Swan model:
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Klenow and
Rodriguez-Clare cast doubt on the validity of the augmented model because Mankiw, Romer, and Weil's estimates of
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implied that human capital's external effects on national income are greater than its direct effect on workers' salaries.
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6602:
3915:, is saved each period, but in this case split up and invested partly in physical and partly in human capital, such that
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4639:{\displaystyle h^{*}=\left({\frac {s_{K}^{\alpha }s_{H}^{1-\alpha }}{n+g+\delta }}\right)^{\frac {1}{1-\alpha -\beta }}}
7632:
6627:
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2595:
990:
and capital-output ratios that are not fixed as they are in the Harrod–Domar model. These refinements allow increasing
954:
523:
371:
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4515:{\displaystyle k^{*}=\left({\frac {s_{K}^{1-\beta }s_{H}^{\beta }}{n+g+\delta }}\right)^{\frac {1}{1-\alpha -\beta }}}
3518:
6924:
1149:
4916:{\displaystyle MPK={\frac {\partial Y}{\partial K}}={\frac {\alpha A^{1-\alpha }(H/L)^{\beta }}{(K/L)^{1-\alpha }}}}
5971:
5913:
464:
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Mankiw, N. Gregory; Romer, David; Weil, David N. (May 1992). "A Contribution to the
Empirics of Economic Growth".
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4149:
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7233:"Were Mankiw, Romer, and Weil Right? A Reconciliation of the Micro and Macro Effects of Schooling on Income"
8301:
8274:
7595:
van
Rijckeghem Willy (1963) : The Structure of Some Macro-Economic Growth Models : a Comparison.
6798:
Besomi, Daniele (2001). "Harrod's dynamics and the theory of growth: the story of a mistaken attribution".
3008:
is also growing at that rate. In essence, the Solow–Swan model predicts that an economy will converge to a
2363:
1528:
are given. The number of workers, i.e. labor, as well as the level of technology grow exogenously at rates
995:
508:
496:
1037:
A mathematical implication of the model (assuming poor countries have not yet reached their steady state).
8728:
8709:
8286:
8131:
8097:
8082:
8061:
8056:
7596:
6968:
6940:
Baumol, William J. (1986). "Productivity Growth, Convergence, and
Welfare: What the Long-Run Data Show".
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5054:
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2017:
1015:
398:
228:
152:
80:
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8279:
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7623:
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Breton, T. R. (2013). "The role of education in economic growth: Theory, history and current returns".
2469:
1336:
1209:
518:
501:
381:
3390:{\displaystyle MPK={\frac {\partial Y}{\partial K}}={\frac {\alpha A^{1-\alpha }}{(K/L)^{1-\alpha }}}}
8773:
7849:
6872:(2016-07-03). "Solow's Harrod: Transforming macroeconomic dynamics into a model of long-run growth".
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1632:
1574:
1103:
403:
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Additional evidence for conditional convergence comes from multivariate, cross-country regressions.
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who independently developed relatively simple growth models. Solow's model fitted available data on
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Solow Model Videos - 20+ videos walking through derivation of the Solow Growth Model's
Conclusions
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7542:"From Exploratory Modeling to Technical Expertise: Solow's Growth Model as a Multipurpose Design"
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The idea of using a Cobb–Douglas production function at the core of a growth model dates back to
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34:
1988:
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341:
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represents effective labor. All factors of production are fully employed, and initial values
1157:
634:
609:
513:
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172:
135:
113:
108:
7451:
6448:
2516:, is the “break-even investment”: the amount of investment that must be invested to prevent
8738:
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8109:
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7998:
7949:
7914:
7854:
7819:
7754:
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7408:
7354:
7322:
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3706:
Similar to the textbook Solow–Swan model, the production function is of Cobb–Douglas type:
3095:
2868:
2841:
2809:
2568:
1861:
1793:
1733:
987:
882:
552:
211:
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7443:
7385:
Agénor, Pierre-Richard (2004). "Growth and
Technological Progress: The Solow–Swan Model".
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3259:
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8:
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that poor countries should grow faster and eventually catch-up to richer countries. This
914:
894:
762:
639:
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177:
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3644:{\displaystyle \alpha ={\frac {K{\frac {\partial Y}{\partial K}}}{Y}}={\frac {rK}{Y}}\,}
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1421:
599:
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7013:
6969:"Inada conditions imply that production function must be asymptotically Cobb–Douglas"
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6889:
6777:
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6724:
6460:
6449:
5085:
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4947:
The Solow–Swan model augmented with human capital predicts that the income levels of
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1133:
991:
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777:
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298:
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technological progress or labor force growth, we can see the economy ceases to grow.
649:
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2978:{\displaystyle y^{*}=\left({\frac {s}{n+g+\delta }}\right)^{\alpha /(1-\alpha )}\,}
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A standard Solow model predicts that in the long run, economies converge to their
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Java applet where you can experiment with parameters and learn about Solow model
6575:
Cass D (1965): "Optimum Growth in an
Aggregative Model of Capital Accumulation,
6530:
1058:
The key assumption of the Solow–Swan growth model is that capital is subject to
8662:
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8612:
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8577:
8547:
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351:
201:
157:
75:
50:
42:
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3824:{\displaystyle Y(t)=K(t)^{\alpha }H(t)^{\beta }(A(t)L(t))^{1-\alpha -\beta },}
619:
8762:
8627:
8617:
8592:
8532:
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7994:
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theorised a version of the Solow-Swan model, augmented to include a role for
3696:
2753:{\displaystyle k^{*}=\left({\frac {s}{n+g+\delta }}\right)^{1/(1-\alpha )}\,}
2667:, at which there is neither an increase nor a decrease of capital intensity:
1031:
967:
719:
704:
679:
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147:
6609:
Lecture 3 – Growth Model with
Endogenous Savings: Ramsey-Cass-Koopmans Model
8657:
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8497:
8487:
8482:
8407:
8252:
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6869:
6622:
6485:
2838:. Likewise, it is possible to calculate the steady-state of created wealth
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814:
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684:
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431:
303:
270:
260:
218:
95:
90:
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7389:(Second ed.). Cambridge: Harvard University Press. pp. 439–462.
6811:
3420:
is the same across countries, then countries with less capital per worker
893:
largely driven by technological progress. At its core, it is an aggregate
8632:
8622:
8412:
8291:
8235:
7710:
7434:
Burmeister, Edwin; Dobell, A. Rodney (1970). "One-Sector Growth Models".
7043:
6545:
5003:
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3692:
3285:
in the Solow–Swan model is inversely related to the capital/labor ratio.
950:
910:
744:
255:
240:
6819:
5067:
4146:
The balanced (or steady-state) equilibrium growth path is determined by
3961:. Therefore, there are two fundamental dynamic equations in this model:
8542:
8342:
8119:
7194:
7171:
6953:
6854:
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6755:
6648:
6525:
5073:
4993:
1891:
938:
933:
674:
604:
540:
491:
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6586:
2417:, is the actual investment per unit of effective labour: the fraction
8392:
8322:
7679:
7260:
6698:
4980:
1415:
772:
614:
245:
130:
85:
7195:"The Neoclassical Revival in Growth Economics: Has It Gone Too Far?"
7163:
6846:
6640:
6507:
4136:{\displaystyle {\dot {h}}=s_{H}k^{\alpha }h^{\beta }-(n+g+\delta )h}
4046:{\displaystyle {\dot {k}}=s_{K}k^{\alpha }h^{\beta }-(n+g+\delta )k}
8171:
7644:
Professor José-Víctor Ríos-Rull's course at
University of Minnesota
7541:
7450:; Startz, Richard (2004). "Growth Theory: The Neoclassical Model".
7071:
Caselli, F.; Feyrer, J. (2007). "The Marginal Product of Capital".
6489:
6625:(1957). "Technical change and the aggregate production function".
3863:
is the stock of human capital, which depreciates at the same rate
7119:(1990). "Why doesn't Capital Flow from Rich to Poor Countries?".
970:
economic growth with some success. In 1987 Solow was awarded the
7481:(Second ed.). Cincinnati: South-Western. pp. 333–355.
6693:
6691:
5052:(1942). "Zur Theorie der langfristigen Wirtschaftsentwicklung".
994:
to be distinguished from technological progress. Solow sees the
881:. It attempts to explain long-run economic growth by looking at
7639:
A step-by-step explanation of how to understand the Solow Model
5084:. Baltimore: Johns Hopkins University Press. pp. 362–368.
2350:{\displaystyle {\dot {k}}(t)=sk(t)^{\alpha }-(n+g+\delta )k(t)}
821:
6688:
6548:(November 1956). "Economic growth and capital accumulation".
4965:
3191:{\displaystyle {\frac {K(t)}{Y(t)}}={\frac {s}{n+g+\delta }}}
1975:{\displaystyle {\dot {K}}(t)=s\cdot Y(t)-\delta \cdot K(t)\,}
1763:
413:
189:
7648:
7361:(Second ed.). New York: McGraw-Hill. pp. 461–509.
2222:{\displaystyle y(t)={\frac {Y(t)}{A(t)L(t)}}=k(t)^{\alpha }}
1093:
949:
analysis of consumer optimization, thereby endogenizing the
7502:. Manchester: Manchester University Press. pp. 42–48.
4349:{\displaystyle s_{H}k^{\alpha }h^{\beta }-(n+g+\delta )h=0}
4269:{\displaystyle s_{K}k^{\alpha }h^{\beta }-(n+g+\delta )k=0}
1303:{\displaystyle Y(t)=K(t)^{\alpha }(A(t)L(t))^{1-\alpha }\,}
986:
Solow extended the Harrod–Domar model by adding labor as a
7477:
Farmer, Roger E. A. (1999). "Neoclassical Growth Theory".
7419:(Second ed.). New York: McGraw-Hill. pp. 23–84.
7329:(Second ed.). New York: McGraw-Hill. pp. 37–51.
7193:
Klenow, Peter J.; Rodriguez-Clare, Andres (January 1997).
1152:
world with no government or international trade. A single
7050:(Fourth ed.). New York: McGraw-Hill. pp. 6–48.
6707:
Undergraduate Journal of Mathematical Modeling: One + Two
1365:
is the elasticity of output with respect to capital, and
7458:(Ninth ed.). New York: McGraw-Hill Irwin. pp.
3509:
in poor countries could explain the lower productivity.
6874:
The European Journal of the History of Economic Thought
4718:{\displaystyle y^{*}=(k^{*})^{\alpha }(h^{*})^{\beta }}
7525:(Third ed.). Berlin: Springer. pp. 175–189.
7442:
981:
7581:. Englewood Cliffs: Prentice-Hall. pp. 398–416.
7495:
7357:(2004). "Growth Models with Exogenous Saving Rates".
7325:(2004). "Growth Models with Exogenous Saving Rates".
7192:
6754:
Blume, Lawrence E.; Sargent, Thomas J. (2015-03-01).
6382:
6072:
6052:
6032:
5974:
5916:
5841:
5380:
5110:
4796:
4762:
4739:
4655:
4529:
4405:
4382:
4362:
4282:
4202:
4152:
4060:
3970:
3921:
3889:
3869:
3840:
3715:
3677:
3660:
3583:
3561:
3521:
3483:
3455:
3426:
3406:
3294:
3262:
3242:
3214:
3128:
3098:
3085:{\displaystyle {\frac {K(t)}{Y(t)}}=k(t)^{1-\alpha }}
3021:
2994:
2901:
2871:
2844:
2812:
2789:
2769:
2676:
2598:
2571:
2542:
2522:
2472:
2443:
2423:
2366:
2264:
2241:
2137:
2114:
2069:
2020:
1991:
1907:
1864:
1828:
1796:
1776:
1736:
1695:
1635:
1577:
1554:
1534:
1505:
1476:
1447:
1424:
1400:
1371:
1339:
1319:
1221:
1186:
1166:
6833:
Harrod, R. F. (1939). "An Essay in Dynamic Theory".
901:
type, which enables the model "to make contact with
1102:. This residual measures the exogenous increase in
7403:
7349:
7317:
6455:. Princeton: Princeton University Press. pp.
6447:Acemoglu, Daron (2009). "The Solow Growth Model".
6419:
6368:
6058:
6038:
6018:
5960:
5902:
5827:
5358:
4915:
4781:
4770:
4747:
4717:
4638:
4514:
4388:
4368:
4348:
4268:
4188:
4135:
4045:
3953:
3907:
3875:
3855:
3823:
3666:
3643:
3567:
3544:
3497:
3469:
3440:
3412:
3389:
3277:
3248:
3228:
3190:
3111:
3084:
3000:
2977:
2884:
2857:
2830:
2798:
2775:
2752:
2659:
2584:
2557:
2528:
2508:
2458:
2429:
2409:
2349:
2247:
2232:The main interest of the model is the dynamics of
2221:
2120:
2093:
2052:
2006:
1974:
1894:. This dynamic is expressed through the following
1882:
1846:
1814:
1782:
1754:
1722:
1678:
1620:
1560:
1540:
1520:
1491:
1462:
1433:
1406:
1386:
1357:
1325:
1302:
1192:
1172:
7203:. National Bureau of Economic Research. pp.
6611:. Instituto Tecnologico Autonomo de Mexico (ITAM)
6490:"A contribution to the theory of economic growth"
5903:{\displaystyle {\dot {K}}(t)=sY(t)-\delta K(t)\,}
2660:{\displaystyle sk(t)^{\alpha }=(n+g+\delta )k(t)}
8760:
7554:MIT and the Transformation of American Economics
7433:
7197:. In Bernanke, Ben S.; Rotemberg, Julio (eds.).
6967:Barelli, Paulo; Pessôa, Samuel de Abreu (2003).
3545:{\displaystyle {\frac {\partial Y}{\partial K}}}
7578:Mathematical Optimalization and Economic Theory
7139:
6867:
7664:
7070:
7010:
6966:
6019:{\displaystyle {\frac {{\dot {A}}(t)}{A(t)}}}
5961:{\displaystyle {\frac {{\dot {L}}(t)}{L(t)}}}
2466:that is saved and invested. The second term,
846:
7574:
7038:
7036:
6753:
6667:
4930:
3682:
905:". The model was developed independently by
7413:"Growth Models with Exogenous Saving Rates"
6663:
6661:
6480:
6478:
6476:
6066:, respectively, the equation simplifies to
2437:of the output per unit of effective labour
1143:
7671:
7657:
7200:NBER Macroeconomics Annual 1997, Volume 12
6540:
6538:
5078:"Neoclassical Growth: Tinbergen and Solow"
4942:
2988:By assumption of constant returns, output
2128:, which is a measure for wealth creation:
1790:. However, only a fraction of the output (
1414:refers to labor-augmenting technology or “
923:Mathematically, the Solow–Swan model is a
853:
839:
7539:
7259:
7226:
7224:
7153:
7109:
7084:
7033:
6995:
6771:
6718:
6697:
6515:
5899:
5048:
3640:
2974:
2749:
1971:
1299:
1094:Variations in the effects of productivity
1083:worker-hour required for a unit of output
1004:constant elasticity of substitution (CES)
7516:
7436:Mathematical Theories of Economic Growth
6743:from the original on September 22, 2017.
6703:"The Solow Model and Standard of Living"
6658:
6473:
6446:
4728:
4356:. Solving for the steady-state level of
2536:from falling. The equation implies that
1689:The number of effective units of labor,
1148:The textbook Solow–Swan model is set in
1009:
7499:Introduction to Dynamic Economic Models
7496:Ferguson, Brian S.; Lim, G. C. (1998).
6535:
4189:{\displaystyle {\dot {k}}={\dot {h}}=0}
14:
8761:
7476:
7438:. New York: Macmillan. pp. 20–64.
7387:The Economics of Adjustment and Growth
7384:
7282:
7230:
7221:
6939:
6832:
6797:
6451:Introduction to Modern Economic Growth
163:Measures of national income and output
7652:
7115:
7042:
6914:
6793:
6791:
6621:
6484:
5082:Pioneering Economic Theory, 1630–1980
5072:
5006:analysis on Singapore and the other "
2565:converges to a steady-state value of
2410:{\displaystyle sk(t)^{\alpha }=sy(t)}
1212:must be asymptotically equal to one.
996:fixed proportions production function
953:, to create what is now known as the
6544:
1117:) is economic output per labor hour.
7748:Agent-based computational economics
6420:{\displaystyle y(t)=k(t)^{\alpha }}
2107:output per effective unit of labour
2053:{\displaystyle {\frac {dK(t)}{dt}}}
982:Extension to the Harrod–Domar model
24:
7633:The Wolfram Demonstrations Project
7378:
7142:The Quarterly Journal of Economics
7073:The Quarterly Journal of Economics
7046:(2011). "The Solow Growth Model".
6788:
6628:Review of Economics and Statistics
6562:10.1111/j.1475-4932.1956.tb00434.x
4820:
4812:
3678:Mankiw–Romer–Weil version of model
3607:
3599:
3533:
3525:
3318:
3310:
25:
8785:
7603:
7575:Intriligator, Michael D. (1971).
2509:{\displaystyle (n+g+\delta )k(t)}
1358:{\displaystyle 0<\alpha <1}
1136:effect.) MFP is measured by the "
931:that models the evolution of the
27:Model of long-run economic growth
8206:neoclassical–Keynesian synthesis
3256:the marginal product of capital
820:
808:
49:
7519:"The Neoclassical Growth Model"
7343:
7311:
7276:
7186:
7133:
7064:
7004:
6960:
6933:
6919:. McGraw-Hill. pp. 31–35.
6908:
6861:
6826:
6747:
5368:
5098:
4782:Accounting for external effects
1679:{\displaystyle A(t)=A(0)e^{gt}}
1621:{\displaystyle L(t)=L(0)e^{nt}}
1156:(output) is produced using two
7619:Marginal Revolution University
6800:Cambridge Journal of Economics
6615:
6592:
6577:The Review of Economic Studies
6568:
6495:Quarterly Journal of Economics
6440:
6408:
6401:
6392:
6386:
6363:
6357:
6345:
6339:
6327:
6321:
6309:
6303:
6288:
6282:
6276:
6270:
6262:
6256:
6238:
6232:
6226:
6220:
6212:
6206:
6188:
6182:
6176:
6170:
6162:
6156:
6138:
6132:
6126:
6120:
6112:
6106:
6091:
6085:
6010:
6004:
5996:
5990:
5952:
5946:
5938:
5932:
5896:
5890:
5878:
5872:
5860:
5854:
5819:
5813:
5805:
5799:
5778:
5772:
5766:
5760:
5752:
5746:
5731:
5725:
5717:
5711:
5690:
5684:
5678:
5672:
5664:
5658:
5643:
5637:
5631:
5625:
5617:
5611:
5590:
5587:
5581:
5566:
5560:
5551:
5545:
5530:
5524:
5518:
5506:
5502:
5496:
5490:
5484:
5478:
5473:
5467:
5452:
5446:
5440:
5434:
5426:
5420:
5399:
5393:
5347:
5340:
5322:
5318:
5312:
5306:
5300:
5294:
5283:
5276:
5261:
5255:
5249:
5243:
5223:
5219:
5213:
5207:
5201:
5195:
5186:
5179:
5164:
5158:
5152:
5146:
5138:
5132:
5120:
5114:
5041:
4895:
4880:
4869:
4854:
4706:
4692:
4683:
4669:
4334:
4316:
4254:
4236:
4127:
4109:
4037:
4019:
3902:
3896:
3850:
3844:
3797:
3793:
3787:
3781:
3775:
3769:
3760:
3753:
3741:
3734:
3725:
3719:
3369:
3354:
3272:
3266:
3229:{\displaystyle {\alpha }<1}
3155:
3149:
3141:
3135:
3067:
3060:
3048:
3042:
3034:
3028:
2969:
2957:
2825:
2813:
2763:at which the stock of capital
2744:
2732:
2654:
2648:
2642:
2624:
2612:
2605:
2552:
2546:
2503:
2497:
2491:
2473:
2453:
2447:
2404:
2398:
2380:
2373:
2344:
2338:
2332:
2314:
2302:
2295:
2283:
2277:
2210:
2203:
2191:
2185:
2179:
2173:
2165:
2159:
2147:
2141:
2088:
2073:
2063:Since the production function
2036:
2030:
1968:
1962:
1947:
1941:
1926:
1920:
1809:
1803:
1749:
1737:
1717:
1711:
1705:
1699:
1660:
1654:
1645:
1639:
1602:
1596:
1587:
1581:
1515:
1509:
1486:
1480:
1457:
1451:
1381:
1375:
1284:
1280:
1274:
1268:
1262:
1256:
1247:
1240:
1231:
1225:
1053:
929:ordinary differential equation
768:Publications in macroeconomics
13:
1:
8142:Critique of political economy
7678:
7027:10.1016/j.econlet.2007.09.035
6988:10.1016/S0165-1765(03)00218-0
6886:10.1080/09672567.2014.1001763
6434:
3954:{\displaystyle s=s_{K}+s_{H}}
1770:over time at a constant rate
1394:represents total production.
1202:aggregate production function
960:
7546:History of Political Economy
7517:Gandolfo, Giancarlo (1996).
7297:10.1080/00131881.2013.801241
6942:The American Economic Review
1113:Average Labor Productivity (
1078:economic growth per-capita).
913:in 1956, and superseded the
7:
7597:Weltwirtschaftliches Archiv
6713:(2 (Article 5)): Abstract.
5055:Weltwirtschaftliches Archiv
5017:
4935:The exogenous rate of TFP (
3514:marginal product of capital
3505:equalize across countries.
3010:balanced-growth equilibrium
1847:{\displaystyle 0<c<1}
897:, often specified to be of
10:
8790:
8280:Real business-cycle theory
7540:Halsmayer, Verena (2014).
6720:10.5038/2326-3652.7.2.4879
5374:Step-by-step calculation:
5104:Step-by-step calculation:
4986:Institutional arrangements
2007:{\displaystyle {\dot {K}}}
1730:, therefore grows at rate
1210:elasticity of substitution
955:Ramsey–Cass–Koopmans model
519:New neoclassical synthesis
502:Real business-cycle theory
8720:
8678:
8320:
8054:
7803:
7768:
7686:
7599:volume 91 pp. 84–100
7252:10.1017/S1365100511000824
4937:total factor productivity
4931:Total factor productivity
3683:Addition of human capital
1104:total factor productivity
7562:10.1215/00182702-2716181
7122:American Economic Review
6682:10.1108/cr.2006.16.2.106
5034:
5029:Endogenous growth theory
4771:{\displaystyle {\beta }}
4748:{\displaystyle {\beta }}
1858:, leaving a saved share
1723:{\displaystyle A(t)L(t)}
1144:Mathematics of the model
1121:Multifactor productivity
972:Nobel Prize in Economics
524:Saltwater and freshwater
7920:Industrial organization
7743:Computational economics
7048:Advanced Macroeconomics
6917:Advanced Macroeconomics
4974:conditional convergence
4943:Conditional convergence
3876:{\displaystyle \delta }
3667:{\displaystyle \alpha }
3203:golden rule saving rate
2105:, it can be written as
2094:{\displaystyle Y(K,AL)}
1783:{\displaystyle \delta }
1208:, which imply that the
1023:could be explained by:
927:consisting of a single
452:International economics
377:Overlapping generations
8125:Modern monetary theory
7790:Experimental economics
7760:Pluralism in economics
7733:Mathematical economics
7240:Macroeconomic Dynamics
7231:Breton, T. R. (2013).
7095:10.1162/qjec.122.2.535
6670:Competitiveness Review
6421:
6376:. As mentioned above,
6370:
6060:
6040:
6020:
5962:
5904:
5829:
5360:
4917:
4772:
4749:
4719:
4640:
4516:
4390:
4370:
4350:
4270:
4190:
4137:
4047:
3955:
3909:
3877:
3857:
3825:
3668:
3645:
3569:
3546:
3499:
3471:
3442:
3414:
3391:
3279:
3250:
3230:
3192:
3113:
3086:
3015:Since, by definition,
3002:
2979:
2886:
2865:that corresponds with
2859:
2832:
2800:
2777:
2754:
2661:
2586:
2559:
2530:
2510:
2460:
2431:
2411:
2351:
2249:
2223:
2122:
2095:
2054:
2008:
1976:
1884:
1848:
1816:
1784:
1756:
1724:
1680:
1622:
1562:
1542:
1522:
1493:
1464:
1435:
1408:
1388:
1359:
1327:
1304:
1194:
1174:
871:exogenous growth model
795:Mathematical economics
546:Modern monetary theory
309:Universal basic income
18:Exogenous growth model
7631:by Fiona Maclachlan,
7409:Sala-i-Martin, Xavier
7355:Sala-i-Martin, Xavier
7323:Sala-i-Martin, Xavier
6915:Romer, David (2006).
6422:
6371:
6061:
6041:
6021:
5963:
5905:
5830:
5361:
4996:with other countries.
4918:
4773:
4750:
4729:Econometric estimates
4720:
4649:In the steady state,
4641:
4517:
4391:
4371:
4351:
4271:
4191:
4138:
4048:
3956:
3910:
3908:{\displaystyle sY(t)}
3878:
3858:
3826:
3669:
3646:
3570:
3547:
3500:
3472:
3443:
3415:
3392:
3280:
3251:
3231:
3193:
3114:
3112:{\displaystyle k^{*}}
3092:, at the equilibrium
3087:
3003:
2980:
2887:
2885:{\displaystyle k^{*}}
2860:
2858:{\displaystyle y^{*}}
2833:
2831:{\displaystyle (n+g)}
2801:
2783:and effective labour
2778:
2755:
2662:
2587:
2585:{\displaystyle k^{*}}
2560:
2531:
2511:
2461:
2432:
2412:
2352:
2250:
2224:
2123:
2096:
2055:
2009:
1977:
1896:differential equation
1885:
1883:{\displaystyle s=1-c}
1849:
1817:
1815:{\displaystyle cY(t)}
1785:
1757:
1755:{\displaystyle (n+g)}
1725:
1681:
1623:
1563:
1543:
1523:
1494:
1465:
1436:
1409:
1389:
1360:
1328:
1305:
1195:
1175:
1158:factors of production
1062:in a closed economy.
1010:Long-run implications
1002:and the more general
635:Wesley Clair Mitchell
610:Thomas Robert Malthus
447:Development economics
7999:Social choice theory
7755:Behavioral economics
7738:Complexity economics
7285:Educational Research
6835:The Economic Journal
6760:The Economic Journal
6380:
6070:
6050:
6030:
5972:
5914:
5839:
5378:
5108:
4794:
4760:
4737:
4653:
4527:
4403:
4380:
4360:
4280:
4200:
4150:
4058:
3968:
3919:
3887:
3867:
3856:{\displaystyle H(t)}
3838:
3713:
3658:
3581:
3559:
3519:
3481:
3453:
3424:
3404:
3292:
3278:{\displaystyle K(t)}
3260:
3240:
3212:
3126:
3096:
3019:
2992:
2899:
2869:
2842:
2810:
2806:are growing at rate
2787:
2767:
2674:
2596:
2569:
2558:{\displaystyle k(t)}
2540:
2520:
2470:
2459:{\displaystyle y(t)}
2441:
2421:
2364:
2262:
2239:
2135:
2112:
2067:
2018:
1989:
1905:
1862:
1826:
1794:
1774:
1734:
1693:
1633:
1575:
1552:
1532:
1521:{\displaystyle L(0)}
1503:
1492:{\displaystyle K(0)}
1474:
1463:{\displaystyle A(0)}
1445:
1422:
1398:
1387:{\displaystyle Y(t)}
1369:
1337:
1317:
1219:
1184:
1164:
988:factor of production
883:capital accumulation
372:Ramsey–Cass–Koopmans
212:Liquidity preference
8083:American (National)
7783:Economic statistics
6868:Halsmayer, Verena;
6812:10.1093/cje/25.1.79
4586:
4565:
4462:
4447:
3498:{\displaystyle Y/L}
3470:{\displaystyle K/L}
3441:{\displaystyle K/L}
1204:that satisfies the
1060:diminishing returns
895:production function
889:, and increases in
827:Business portal
763:Macroeconomic model
640:John Maynard Keynes
437:Economic statistics
382:General equilibrium
7629:Solow Growth Model
7444:Dornbusch, Rüdiger
6773:10.1111/ecoj.12224
6517:10338.dmlcz/143862
6417:
6366:
6056:
6036:
6016:
5958:
5900:
5825:
5356:
4913:
4768:
4745:
4715:
4636:
4566:
4551:
4512:
4448:
4427:
4386:
4366:
4346:
4266:
4186:
4133:
4043:
3951:
3905:
3873:
3853:
3821:
3664:
3641:
3565:
3542:
3495:
3477:and income/worker
3467:
3438:
3410:
3387:
3275:
3246:
3226:
3188:
3109:
3082:
2998:
2975:
2882:
2855:
2828:
2799:{\displaystyle AL}
2796:
2773:
2750:
2657:
2582:
2555:
2526:
2506:
2456:
2427:
2407:
2347:
2245:
2219:
2118:
2091:
2050:
2004:
1972:
1880:
1844:
1812:
1780:
1752:
1720:
1676:
1618:
1558:
1538:
1518:
1489:
1460:
1434:{\displaystyle AL}
1431:
1404:
1384:
1355:
1323:
1300:
1190:
1170:
918:Harrod–Domar model
715:Edward C. Prescott
442:Monetary economics
8756:
8755:
8287:New institutional
7615:Video explanation
7588:978-0-13-561753-3
7532:978-3-540-60988-9
7523:Economic Dynamics
7509:978-0-7190-4996-5
7488:978-0-324-12058-5
7469:978-0-07-282340-0
7426:978-0-262-02553-9
7396:978-0-674-01578-4
7368:978-0-262-02553-9
7336:978-0-262-02553-9
7214:978-0-262-02435-8
7057:978-0-07-351137-5
7014:Economics Letters
6976:Economics Letters
6488:(February 1956).
6466:978-0-691-13292-1
6292:
6242:
6192:
6142:
6082:
6059:{\displaystyle g}
6039:{\displaystyle n}
6014:
5987:
5956:
5929:
5851:
5823:
5796:
5782:
5735:
5708:
5694:
5647:
5608:
5578:
5542:
5516:
5456:
5417:
5390:
5332:
5265:
5168:
5091:978-0-8018-2667-2
5008:East Asian Tigers
4911:
4827:
4633:
4605:
4509:
4481:
4389:{\displaystyle h}
4369:{\displaystyle k}
4177:
4162:
4070:
3980:
3689:N. Gregory Mankiw
3638:
3620:
3614:
3568:{\displaystyle r}
3540:
3413:{\displaystyle A}
3385:
3325:
3249:{\displaystyle t}
3186:
3159:
3052:
3001:{\displaystyle Y}
2942:
2776:{\displaystyle K}
2717:
2529:{\displaystyle k}
2430:{\displaystyle s}
2274:
2248:{\displaystyle k}
2234:capital intensity
2195:
2121:{\displaystyle y}
2048:
2014:is shorthand for
2001:
1917:
1762:. Meanwhile, the
1561:{\displaystyle g}
1541:{\displaystyle n}
1407:{\displaystyle A}
1326:{\displaystyle t}
1193:{\displaystyle K}
1173:{\displaystyle L}
1134:capital deepening
992:capital intensity
943:Tjalling Koopmans
887:population growth
863:
862:
790:Political economy
745:N. Gregory Mankiw
735:Thomas J. Sargent
580:Market monetarism
394:Endogenous growth
224:National accounts
16:(Redirected from
8781:
8774:Economics models
7960:Natural resource
7795:Economic history
7721:Mechanism design
7673:
7666:
7659:
7650:
7649:
7592:
7571:
7569:
7568:
7536:
7513:
7492:
7473:
7457:
7448:Fischer, Stanley
7439:
7430:
7405:Barro, Robert J.
7400:
7373:
7372:
7351:Barro, Robert J.
7347:
7341:
7340:
7319:Barro, Robert J.
7315:
7309:
7308:
7280:
7274:
7273:
7263:
7246:(5): 1023–1054.
7237:
7228:
7219:
7218:
7190:
7184:
7183:
7157:
7137:
7131:
7130:
7113:
7107:
7106:
7088:
7068:
7062:
7061:
7040:
7031:
7030:
7008:
7002:
7001:
6999:
6973:
6964:
6958:
6957:
6948:(5): 1072–1085.
6937:
6931:
6930:
6912:
6906:
6905:
6870:Hoover, Kevin D.
6865:
6859:
6858:
6830:
6824:
6823:
6795:
6786:
6785:
6775:
6766:(583): 350–377.
6751:
6745:
6744:
6722:
6695:
6686:
6685:
6665:
6656:
6652:
6623:Solow, Robert M.
6619:
6613:
6607:, before 2022):
6596:
6590:
6572:
6566:
6565:
6542:
6533:
6529:
6519:
6486:Solow, Robert M.
6482:
6471:
6470:
6454:
6444:
6428:
6426:
6424:
6423:
6418:
6416:
6415:
6375:
6373:
6372:
6367:
6293:
6291:
6265:
6251:
6243:
6241:
6215:
6201:
6193:
6191:
6165:
6151:
6143:
6141:
6115:
6101:
6084:
6083:
6075:
6065:
6063:
6062:
6057:
6045:
6043:
6042:
6037:
6025:
6023:
6022:
6017:
6015:
6013:
5999:
5989:
5988:
5980:
5976:
5967:
5965:
5964:
5959:
5957:
5955:
5941:
5931:
5930:
5922:
5918:
5909:
5907:
5906:
5901:
5853:
5852:
5844:
5834:
5832:
5831:
5826:
5824:
5822:
5808:
5798:
5797:
5789:
5785:
5783:
5781:
5755:
5741:
5736:
5734:
5720:
5710:
5709:
5701:
5697:
5695:
5693:
5667:
5653:
5648:
5646:
5620:
5610:
5609:
5601:
5597:
5580:
5579:
5571:
5544:
5543:
5535:
5517:
5515:
5514:
5513:
5476:
5462:
5457:
5455:
5429:
5419:
5418:
5410:
5406:
5392:
5391:
5383:
5372:
5366:
5365:
5363:
5362:
5357:
5355:
5354:
5333:
5331:
5330:
5329:
5292:
5291:
5290:
5271:
5266:
5264:
5238:
5237:
5236:
5194:
5193:
5174:
5169:
5167:
5141:
5127:
5102:
5096:
5095:
5070:
5045:
4992:internally, and
4922:
4920:
4919:
4914:
4912:
4910:
4909:
4908:
4890:
4878:
4877:
4876:
4864:
4853:
4852:
4833:
4828:
4826:
4818:
4810:
4777:
4775:
4774:
4769:
4767:
4754:
4752:
4751:
4746:
4744:
4724:
4722:
4721:
4716:
4714:
4713:
4704:
4703:
4691:
4690:
4681:
4680:
4665:
4664:
4645:
4643:
4642:
4637:
4635:
4634:
4632:
4612:
4610:
4606:
4604:
4587:
4585:
4574:
4564:
4559:
4549:
4539:
4538:
4521:
4519:
4518:
4513:
4511:
4510:
4508:
4488:
4486:
4482:
4480:
4463:
4461:
4456:
4446:
4435:
4425:
4415:
4414:
4395:
4393:
4392:
4387:
4375:
4373:
4372:
4367:
4355:
4353:
4352:
4347:
4312:
4311:
4302:
4301:
4292:
4291:
4275:
4273:
4272:
4267:
4232:
4231:
4222:
4221:
4212:
4211:
4195:
4193:
4192:
4187:
4179:
4178:
4170:
4164:
4163:
4155:
4142:
4140:
4139:
4134:
4105:
4104:
4095:
4094:
4085:
4084:
4072:
4071:
4063:
4052:
4050:
4049:
4044:
4015:
4014:
4005:
4004:
3995:
3994:
3982:
3981:
3973:
3960:
3958:
3957:
3952:
3950:
3949:
3937:
3936:
3914:
3912:
3911:
3906:
3882:
3880:
3879:
3874:
3862:
3860:
3859:
3854:
3830:
3828:
3827:
3822:
3817:
3816:
3768:
3767:
3749:
3748:
3673:
3671:
3670:
3665:
3650:
3648:
3647:
3642:
3639:
3634:
3626:
3621:
3616:
3615:
3613:
3605:
3597:
3591:
3574:
3572:
3571:
3566:
3551:
3549:
3548:
3543:
3541:
3539:
3531:
3523:
3504:
3502:
3501:
3496:
3491:
3476:
3474:
3473:
3468:
3463:
3447:
3445:
3444:
3439:
3434:
3419:
3417:
3416:
3411:
3400:If productivity
3396:
3394:
3393:
3388:
3386:
3384:
3383:
3382:
3364:
3352:
3351:
3350:
3331:
3326:
3324:
3316:
3308:
3284:
3282:
3281:
3276:
3255:
3253:
3252:
3247:
3235:
3233:
3232:
3227:
3219:
3197:
3195:
3194:
3189:
3187:
3185:
3165:
3160:
3158:
3144:
3130:
3118:
3116:
3115:
3110:
3108:
3107:
3091:
3089:
3088:
3083:
3081:
3080:
3053:
3051:
3037:
3023:
3007:
3005:
3004:
2999:
2984:
2982:
2981:
2976:
2973:
2972:
2956:
2947:
2943:
2941:
2921:
2911:
2910:
2891:
2889:
2888:
2883:
2881:
2880:
2864:
2862:
2861:
2856:
2854:
2853:
2837:
2835:
2834:
2829:
2805:
2803:
2802:
2797:
2782:
2780:
2779:
2774:
2759:
2757:
2756:
2751:
2748:
2747:
2731:
2722:
2718:
2716:
2696:
2686:
2685:
2666:
2664:
2663:
2658:
2620:
2619:
2591:
2589:
2588:
2583:
2581:
2580:
2564:
2562:
2561:
2556:
2535:
2533:
2532:
2527:
2515:
2513:
2512:
2507:
2465:
2463:
2462:
2457:
2436:
2434:
2433:
2428:
2416:
2414:
2413:
2408:
2388:
2387:
2360:The first term,
2356:
2354:
2353:
2348:
2310:
2309:
2276:
2275:
2267:
2254:
2252:
2251:
2246:
2228:
2226:
2225:
2220:
2218:
2217:
2196:
2194:
2168:
2154:
2127:
2125:
2124:
2119:
2103:returns to scale
2100:
2098:
2097:
2092:
2059:
2057:
2056:
2051:
2049:
2047:
2039:
2022:
2013:
2011:
2010:
2005:
2003:
2002:
1994:
1981:
1979:
1978:
1973:
1919:
1918:
1910:
1889:
1887:
1886:
1881:
1853:
1851:
1850:
1845:
1821:
1819:
1818:
1813:
1789:
1787:
1786:
1781:
1761:
1759:
1758:
1753:
1729:
1727:
1726:
1721:
1685:
1683:
1682:
1677:
1675:
1674:
1627:
1625:
1624:
1619:
1617:
1616:
1568:, respectively:
1567:
1565:
1564:
1559:
1547:
1545:
1544:
1539:
1527:
1525:
1524:
1519:
1498:
1496:
1495:
1490:
1469:
1467:
1466:
1461:
1440:
1438:
1437:
1432:
1413:
1411:
1410:
1405:
1393:
1391:
1390:
1385:
1364:
1362:
1361:
1356:
1332:
1330:
1329:
1324:
1309:
1307:
1306:
1301:
1298:
1297:
1255:
1254:
1206:Inada conditions
1199:
1197:
1196:
1191:
1179:
1177:
1176:
1171:
925:nonlinear system
867:Solow–Swan model
855:
848:
841:
825:
824:
815:Money portal
813:
812:
811:
725:William Nordhaus
710:Robert Lucas Jr.
600:François Quesnay
236:Nominal rigidity
207:Demand for money
185:Microfoundations
121:Financial crisis
101:Effective demand
71:Aggregate supply
66:Aggregate demand
53:
30:
29:
21:
8789:
8788:
8784:
8783:
8782:
8780:
8779:
8778:
8769:Economic growth
8759:
8758:
8757:
8752:
8749:Business portal
8716:
8715:
8714:
8674:
8438:von Böhm-Bawerk
8326:
8325:
8316:
8088:Ancient thought
8066:
8065:
8059:
8050:
8049:
8048:
7799:
7764:
7716:Contract theory
7701:Decision theory
7682:
7677:
7606:
7589:
7566:
7564:
7552:(Supplement 1,
7533:
7510:
7489:
7470:
7427:
7417:Economic Growth
7397:
7381:
7379:Further reading
7376:
7369:
7359:Economic Growth
7348:
7344:
7337:
7327:Economic Growth
7316:
7312:
7281:
7277:
7235:
7229:
7222:
7215:
7191:
7187:
7164:10.2307/2118477
7155:10.1.1.335.6159
7138:
7134:
7114:
7110:
7086:10.1.1.706.3505
7069:
7065:
7058:
7041:
7034:
7009:
7005:
6971:
6965:
6961:
6938:
6934:
6927:
6913:
6909:
6866:
6862:
6847:10.2307/2225181
6831:
6827:
6796:
6789:
6752:
6748:
6696:
6689:
6666:
6659:
6641:10.2307/1926047
6620:
6616:
6597:
6593:
6573:
6569:
6550:Economic Record
6546:Swan, Trevor W.
6543:
6536:
6508:10.2307/1884513
6483:
6474:
6467:
6445:
6441:
6437:
6432:
6431:
6411:
6407:
6381:
6378:
6377:
6266:
6252:
6250:
6216:
6202:
6200:
6166:
6152:
6150:
6116:
6102:
6100:
6074:
6073:
6071:
6068:
6067:
6051:
6048:
6047:
6031:
6028:
6027:
6000:
5979:
5978:
5977:
5975:
5973:
5970:
5969:
5942:
5921:
5920:
5919:
5917:
5915:
5912:
5911:
5843:
5842:
5840:
5837:
5836:
5809:
5788:
5787:
5786:
5784:
5756:
5742:
5740:
5721:
5700:
5699:
5698:
5696:
5668:
5654:
5652:
5621:
5600:
5599:
5598:
5596:
5570:
5569:
5534:
5533:
5509:
5505:
5477:
5463:
5461:
5430:
5409:
5408:
5407:
5405:
5382:
5381:
5379:
5376:
5375:
5373:
5369:
5350:
5346:
5325:
5321:
5293:
5286:
5282:
5272:
5270:
5239:
5226:
5222:
5189:
5185:
5175:
5173:
5142:
5128:
5126:
5109:
5106:
5105:
5103:
5099:
5092:
5046:
5042:
5037:
5024:Economic growth
5020:
4945:
4933:
4898:
4894:
4886:
4879:
4872:
4868:
4860:
4842:
4838:
4834:
4832:
4819:
4811:
4809:
4795:
4792:
4791:
4784:
4763:
4761:
4758:
4757:
4740:
4738:
4735:
4734:
4731:
4709:
4705:
4699:
4695:
4686:
4682:
4676:
4672:
4660:
4656:
4654:
4651:
4650:
4616:
4611:
4588:
4575:
4570:
4560:
4555:
4550:
4548:
4544:
4543:
4534:
4530:
4528:
4525:
4524:
4492:
4487:
4464:
4457:
4452:
4436:
4431:
4426:
4424:
4420:
4419:
4410:
4406:
4404:
4401:
4400:
4381:
4378:
4377:
4361:
4358:
4357:
4307:
4303:
4297:
4293:
4287:
4283:
4281:
4278:
4277:
4227:
4223:
4217:
4213:
4207:
4203:
4201:
4198:
4197:
4169:
4168:
4154:
4153:
4151:
4148:
4147:
4100:
4096:
4090:
4086:
4080:
4076:
4062:
4061:
4059:
4056:
4055:
4010:
4006:
4000:
3996:
3990:
3986:
3972:
3971:
3969:
3966:
3965:
3945:
3941:
3932:
3928:
3920:
3917:
3916:
3888:
3885:
3884:
3868:
3865:
3864:
3839:
3836:
3835:
3800:
3796:
3763:
3759:
3744:
3740:
3714:
3711:
3710:
3685:
3680:
3659:
3656:
3655:
3627:
3625:
3606:
3598:
3596:
3592:
3590:
3582:
3579:
3578:
3560:
3557:
3556:
3532:
3524:
3522:
3520:
3517:
3516:
3487:
3482:
3479:
3478:
3459:
3454:
3451:
3450:
3430:
3425:
3422:
3421:
3405:
3402:
3401:
3372:
3368:
3360:
3353:
3340:
3336:
3332:
3330:
3317:
3309:
3307:
3293:
3290:
3289:
3261:
3258:
3257:
3241:
3238:
3237:
3215:
3213:
3210:
3209:
3169:
3164:
3145:
3131:
3129:
3127:
3124:
3123:
3103:
3099:
3097:
3094:
3093:
3070:
3066:
3038:
3024:
3022:
3020:
3017:
3016:
2993:
2990:
2989:
2952:
2948:
2925:
2920:
2916:
2915:
2906:
2902:
2900:
2897:
2896:
2876:
2872:
2870:
2867:
2866:
2849:
2845:
2843:
2840:
2839:
2811:
2808:
2807:
2788:
2785:
2784:
2768:
2765:
2764:
2727:
2723:
2700:
2695:
2691:
2690:
2681:
2677:
2675:
2672:
2671:
2615:
2611:
2597:
2594:
2593:
2576:
2572:
2570:
2567:
2566:
2541:
2538:
2537:
2521:
2518:
2517:
2471:
2468:
2467:
2442:
2439:
2438:
2422:
2419:
2418:
2383:
2379:
2365:
2362:
2361:
2305:
2301:
2266:
2265:
2263:
2260:
2259:
2240:
2237:
2236:
2213:
2209:
2169:
2155:
2153:
2136:
2133:
2132:
2113:
2110:
2109:
2068:
2065:
2064:
2040:
2023:
2021:
2019:
2016:
2015:
1993:
1992:
1990:
1987:
1986:
1909:
1908:
1906:
1903:
1902:
1863:
1860:
1859:
1827:
1824:
1823:
1795:
1792:
1791:
1775:
1772:
1771:
1735:
1732:
1731:
1694:
1691:
1690:
1667:
1663:
1634:
1631:
1630:
1609:
1605:
1576:
1573:
1572:
1553:
1550:
1549:
1533:
1530:
1529:
1504:
1501:
1500:
1475:
1472:
1471:
1446:
1443:
1442:
1423:
1420:
1419:
1399:
1396:
1395:
1370:
1367:
1366:
1338:
1335:
1334:
1318:
1315:
1314:
1287:
1283:
1250:
1246:
1220:
1217:
1216:
1185:
1182:
1181:
1180:) and capital (
1165:
1162:
1161:
1150:continuous-time
1146:
1096:
1056:
1016:balanced growth
1012:
984:
963:
879:economic growth
859:
819:
809:
807:
800:
799:
758:
750:
749:
730:Joseph Stiglitz
690:Milton Friedman
670:Friedrich Hayek
595:
585:
584:
467:
457:
456:
427:
419:
418:
404:Mundell–Fleming
399:Matching theory
337:Keynesian cross
322:
314:
313:
284:
276:
275:
61:
28:
23:
22:
15:
12:
11:
5:
8787:
8777:
8776:
8771:
8754:
8753:
8751:
8746:
8741:
8736:
8731:
8726:
8721:
8718:
8717:
8713:
8712:
8707:
8697:
8692:
8686:
8685:
8684:
8682:
8676:
8675:
8673:
8672:
8665:
8660:
8655:
8650:
8645:
8640:
8635:
8630:
8625:
8620:
8615:
8610:
8605:
8600:
8595:
8590:
8585:
8580:
8575:
8570:
8565:
8560:
8555:
8550:
8545:
8540:
8535:
8530:
8525:
8520:
8515:
8510:
8505:
8500:
8495:
8490:
8485:
8480:
8475:
8470:
8465:
8460:
8455:
8450:
8445:
8440:
8435:
8430:
8425:
8420:
8415:
8410:
8405:
8400:
8395:
8390:
8385:
8380:
8375:
8370:
8365:
8360:
8355:
8350:
8345:
8340:
8335:
8329:
8327:
8321:
8318:
8317:
8315:
8314:
8309:
8304:
8299:
8294:
8289:
8284:
8283:
8282:
8272:
8271:
8270:
8260:
8255:
8250:
8249:
8248:
8238:
8233:
8228:
8227:
8226:
8225:
8224:
8214:
8209:
8194:
8189:
8184:
8179:
8174:
8169:
8164:
8159:
8154:
8152:Disequilibrium
8149:
8144:
8139:
8134:
8129:
8128:
8127:
8117:
8112:
8107:
8102:
8101:
8100:
8090:
8085:
8080:
8075:
8069:
8067:
8055:
8052:
8051:
8047:
8046:
8041:
8036:
8031:
8026:
8021:
8016:
8011:
8006:
8001:
7992:
7987:
7982:
7977:
7972:
7967:
7965:Organizational
7962:
7957:
7952:
7947:
7942:
7937:
7932:
7927:
7922:
7917:
7912:
7907:
7902:
7897:
7892:
7887:
7882:
7877:
7872:
7867:
7862:
7857:
7852:
7847:
7842:
7837:
7832:
7827:
7822:
7817:
7811:
7810:
7809:
7807:
7801:
7800:
7798:
7797:
7792:
7787:
7786:
7785:
7774:
7772:
7766:
7765:
7763:
7762:
7757:
7752:
7751:
7750:
7740:
7735:
7730:
7728:Macroeconomics
7725:
7724:
7723:
7718:
7713:
7708:
7703:
7696:Microeconomics
7692:
7690:
7684:
7683:
7676:
7675:
7668:
7661:
7653:
7647:
7646:
7641:
7636:
7626:
7621:
7612:
7605:
7604:External links
7602:
7601:
7600:
7593:
7587:
7572:
7537:
7531:
7514:
7508:
7493:
7487:
7479:Macroeconomics
7474:
7468:
7454:Macroeconomics
7440:
7431:
7425:
7401:
7395:
7380:
7377:
7375:
7374:
7367:
7342:
7335:
7310:
7291:(2): 121–138.
7275:
7220:
7213:
7185:
7148:(2): 407–437.
7132:
7108:
7063:
7056:
7032:
7021:(3): 498–499.
7003:
6982:(3): 361–363.
6959:
6932:
6925:
6907:
6880:(4): 561–596.
6860:
6841:(193): 14–33.
6825:
6787:
6746:
6687:
6676:(2): 106–121.
6657:
6635:(3): 312–320.
6614:
6591:
6567:
6556:(2): 334–361.
6534:
6472:
6465:
6438:
6436:
6433:
6430:
6429:
6414:
6410:
6406:
6403:
6400:
6397:
6394:
6391:
6388:
6385:
6365:
6362:
6359:
6356:
6353:
6350:
6347:
6344:
6341:
6338:
6335:
6332:
6329:
6326:
6323:
6320:
6317:
6314:
6311:
6308:
6305:
6302:
6299:
6296:
6290:
6287:
6284:
6281:
6278:
6275:
6272:
6269:
6264:
6261:
6258:
6255:
6249:
6246:
6240:
6237:
6234:
6231:
6228:
6225:
6222:
6219:
6214:
6211:
6208:
6205:
6199:
6196:
6190:
6187:
6184:
6181:
6178:
6175:
6172:
6169:
6164:
6161:
6158:
6155:
6149:
6146:
6140:
6137:
6134:
6131:
6128:
6125:
6122:
6119:
6114:
6111:
6108:
6105:
6099:
6096:
6093:
6090:
6087:
6081:
6078:
6055:
6035:
6012:
6009:
6006:
6003:
5998:
5995:
5992:
5986:
5983:
5954:
5951:
5948:
5945:
5940:
5937:
5934:
5928:
5925:
5898:
5895:
5892:
5889:
5886:
5883:
5880:
5877:
5874:
5871:
5868:
5865:
5862:
5859:
5856:
5850:
5847:
5821:
5818:
5815:
5812:
5807:
5804:
5801:
5795:
5792:
5780:
5777:
5774:
5771:
5768:
5765:
5762:
5759:
5754:
5751:
5748:
5745:
5739:
5733:
5730:
5727:
5724:
5719:
5716:
5713:
5707:
5704:
5692:
5689:
5686:
5683:
5680:
5677:
5674:
5671:
5666:
5663:
5660:
5657:
5651:
5645:
5642:
5639:
5636:
5633:
5630:
5627:
5624:
5619:
5616:
5613:
5607:
5604:
5595:
5592:
5589:
5586:
5583:
5577:
5574:
5568:
5565:
5562:
5559:
5556:
5553:
5550:
5547:
5541:
5538:
5532:
5529:
5526:
5523:
5520:
5512:
5508:
5504:
5501:
5498:
5495:
5492:
5489:
5486:
5483:
5480:
5475:
5472:
5469:
5466:
5460:
5454:
5451:
5448:
5445:
5442:
5439:
5436:
5433:
5428:
5425:
5422:
5416:
5413:
5404:
5401:
5398:
5395:
5389:
5386:
5367:
5353:
5349:
5345:
5342:
5339:
5336:
5328:
5324:
5320:
5317:
5314:
5311:
5308:
5305:
5302:
5299:
5296:
5289:
5285:
5281:
5278:
5275:
5269:
5263:
5260:
5257:
5254:
5251:
5248:
5245:
5242:
5235:
5232:
5229:
5225:
5221:
5218:
5215:
5212:
5209:
5206:
5203:
5200:
5197:
5192:
5188:
5184:
5181:
5178:
5172:
5166:
5163:
5160:
5157:
5154:
5151:
5148:
5145:
5140:
5137:
5134:
5131:
5125:
5122:
5119:
5116:
5113:
5097:
5090:
5039:
5038:
5036:
5033:
5032:
5031:
5026:
5019:
5016:
5012:Solow residual
4998:
4997:
4987:
4984:
4949:poor countries
4944:
4941:
4932:
4929:
4924:
4923:
4907:
4904:
4901:
4897:
4893:
4889:
4885:
4882:
4875:
4871:
4867:
4863:
4859:
4856:
4851:
4848:
4845:
4841:
4837:
4831:
4825:
4822:
4817:
4814:
4808:
4805:
4802:
4799:
4783:
4780:
4766:
4743:
4730:
4727:
4712:
4708:
4702:
4698:
4694:
4689:
4685:
4679:
4675:
4671:
4668:
4663:
4659:
4647:
4646:
4631:
4628:
4625:
4622:
4619:
4615:
4609:
4603:
4600:
4597:
4594:
4591:
4584:
4581:
4578:
4573:
4569:
4563:
4558:
4554:
4547:
4542:
4537:
4533:
4522:
4507:
4504:
4501:
4498:
4495:
4491:
4485:
4479:
4476:
4473:
4470:
4467:
4460:
4455:
4451:
4445:
4442:
4439:
4434:
4430:
4423:
4418:
4413:
4409:
4385:
4365:
4345:
4342:
4339:
4336:
4333:
4330:
4327:
4324:
4321:
4318:
4315:
4310:
4306:
4300:
4296:
4290:
4286:
4265:
4262:
4259:
4256:
4253:
4250:
4247:
4244:
4241:
4238:
4235:
4230:
4226:
4220:
4216:
4210:
4206:
4196:, which means
4185:
4182:
4176:
4173:
4167:
4161:
4158:
4144:
4143:
4132:
4129:
4126:
4123:
4120:
4117:
4114:
4111:
4108:
4103:
4099:
4093:
4089:
4083:
4079:
4075:
4069:
4066:
4053:
4042:
4039:
4036:
4033:
4030:
4027:
4024:
4021:
4018:
4013:
4009:
4003:
3999:
3993:
3989:
3985:
3979:
3976:
3948:
3944:
3940:
3935:
3931:
3927:
3924:
3904:
3901:
3898:
3895:
3892:
3872:
3852:
3849:
3846:
3843:
3832:
3831:
3820:
3815:
3812:
3809:
3806:
3803:
3799:
3795:
3792:
3789:
3786:
3783:
3780:
3777:
3774:
3771:
3766:
3762:
3758:
3755:
3752:
3747:
3743:
3739:
3736:
3733:
3730:
3727:
3724:
3721:
3718:
3684:
3681:
3679:
3676:
3663:
3652:
3651:
3637:
3633:
3630:
3624:
3619:
3612:
3609:
3604:
3601:
3595:
3589:
3586:
3564:
3554:rate of return
3538:
3535:
3530:
3527:
3494:
3490:
3486:
3466:
3462:
3458:
3437:
3433:
3429:
3409:
3398:
3397:
3381:
3378:
3375:
3371:
3367:
3363:
3359:
3356:
3349:
3346:
3343:
3339:
3335:
3329:
3323:
3320:
3315:
3312:
3306:
3303:
3300:
3297:
3274:
3271:
3268:
3265:
3245:
3236:, at any time
3225:
3222:
3218:
3199:
3198:
3184:
3181:
3178:
3175:
3172:
3168:
3163:
3157:
3154:
3151:
3148:
3143:
3140:
3137:
3134:
3106:
3102:
3079:
3076:
3073:
3069:
3065:
3062:
3059:
3056:
3050:
3047:
3044:
3041:
3036:
3033:
3030:
3027:
2997:
2986:
2985:
2971:
2968:
2965:
2962:
2959:
2955:
2951:
2946:
2940:
2937:
2934:
2931:
2928:
2924:
2919:
2914:
2909:
2905:
2879:
2875:
2852:
2848:
2827:
2824:
2821:
2818:
2815:
2795:
2792:
2772:
2761:
2760:
2746:
2743:
2740:
2737:
2734:
2730:
2726:
2721:
2715:
2712:
2709:
2706:
2703:
2699:
2694:
2689:
2684:
2680:
2656:
2653:
2650:
2647:
2644:
2641:
2638:
2635:
2632:
2629:
2626:
2623:
2618:
2614:
2610:
2607:
2604:
2601:
2579:
2575:
2554:
2551:
2548:
2545:
2525:
2505:
2502:
2499:
2496:
2493:
2490:
2487:
2484:
2481:
2478:
2475:
2455:
2452:
2449:
2446:
2426:
2406:
2403:
2400:
2397:
2394:
2391:
2386:
2382:
2378:
2375:
2372:
2369:
2358:
2357:
2346:
2343:
2340:
2337:
2334:
2331:
2328:
2325:
2322:
2319:
2316:
2313:
2308:
2304:
2300:
2297:
2294:
2291:
2288:
2285:
2282:
2279:
2273:
2270:
2244:
2230:
2229:
2216:
2212:
2208:
2205:
2202:
2199:
2193:
2190:
2187:
2184:
2181:
2178:
2175:
2172:
2167:
2164:
2161:
2158:
2152:
2149:
2146:
2143:
2140:
2117:
2090:
2087:
2084:
2081:
2078:
2075:
2072:
2046:
2043:
2038:
2035:
2032:
2029:
2026:
2000:
1997:
1983:
1982:
1970:
1967:
1964:
1961:
1958:
1955:
1952:
1949:
1946:
1943:
1940:
1937:
1934:
1931:
1928:
1925:
1922:
1916:
1913:
1879:
1876:
1873:
1870:
1867:
1843:
1840:
1837:
1834:
1831:
1811:
1808:
1805:
1802:
1799:
1779:
1751:
1748:
1745:
1742:
1739:
1719:
1716:
1713:
1710:
1707:
1704:
1701:
1698:
1687:
1686:
1673:
1670:
1666:
1662:
1659:
1656:
1653:
1650:
1647:
1644:
1641:
1638:
1628:
1615:
1612:
1608:
1604:
1601:
1598:
1595:
1592:
1589:
1586:
1583:
1580:
1557:
1537:
1517:
1514:
1511:
1508:
1488:
1485:
1482:
1479:
1459:
1456:
1453:
1450:
1430:
1427:
1403:
1383:
1380:
1377:
1374:
1354:
1351:
1348:
1345:
1342:
1333:denotes time,
1322:
1311:
1310:
1296:
1293:
1290:
1286:
1282:
1279:
1276:
1273:
1270:
1267:
1264:
1261:
1258:
1253:
1249:
1245:
1242:
1239:
1236:
1233:
1230:
1227:
1224:
1189:
1169:
1145:
1142:
1138:Solow residual
1129:
1128:
1118:
1100:Solow residual
1095:
1092:
1091:
1090:
1079:
1071:
1067:
1055:
1052:
1039:
1038:
1035:
1032:Lucas' paradox
1028:
1011:
1008:
983:
980:
962:
959:
947:Frank Ramsey's
903:microeconomics
875:economic model
861:
860:
858:
857:
850:
843:
835:
832:
831:
830:
829:
817:
802:
801:
798:
797:
792:
787:
785:Microeconomics
782:
781:
780:
770:
765:
759:
756:
755:
752:
751:
748:
747:
742:
737:
732:
727:
722:
717:
712:
707:
702:
700:Lawrence Klein
697:
695:Paul Samuelson
692:
687:
682:
677:
672:
667:
662:
657:
652:
650:Michał Kalecki
647:
642:
637:
632:
627:
622:
617:
612:
607:
602:
596:
591:
590:
587:
586:
583:
582:
577:
572:
570:Disequilibrium
567:
566:
565:
558:Post-Keynesian
555:
550:
549:
548:
538:
527:
526:
521:
516:
511:
506:
505:
504:
494:
489:
488:
487:
482:
468:
463:
462:
459:
458:
455:
454:
449:
444:
439:
434:
428:
426:Related fields
425:
424:
421:
420:
417:
416:
411:
406:
401:
396:
391:
390:
389:
379:
374:
369:
364:
359:
354:
352:Phillips curve
349:
344:
339:
334:
329:
323:
320:
319:
316:
315:
312:
311:
306:
301:
296:
291:
285:
282:
281:
278:
277:
274:
273:
268:
263:
258:
253:
248:
243:
238:
233:
232:
231:
221:
216:
215:
214:
204:
202:Money creation
199:
198:
197:
187:
182:
181:
180:
175:
170:
160:
158:Liquidity trap
155:
150:
145:
144:
143:
138:
128:
123:
118:
117:
116:
111:
103:
98:
93:
88:
83:
78:
76:Business cycle
73:
68:
62:
60:Basic concepts
59:
58:
55:
54:
46:
45:
43:Macroeconomics
39:
38:
26:
9:
6:
4:
3:
2:
8786:
8775:
8772:
8770:
8767:
8766:
8764:
8750:
8747:
8745:
8742:
8740:
8737:
8735:
8732:
8730:
8727:
8725:
8722:
8719:
8711:
8708:
8705:
8701:
8698:
8696:
8693:
8691:
8688:
8687:
8683:
8681:
8677:
8671:
8670:
8666:
8664:
8661:
8659:
8656:
8654:
8651:
8649:
8646:
8644:
8641:
8639:
8636:
8634:
8631:
8629:
8626:
8624:
8621:
8619:
8616:
8614:
8611:
8609:
8606:
8604:
8601:
8599:
8596:
8594:
8591:
8589:
8586:
8584:
8581:
8579:
8576:
8574:
8571:
8569:
8566:
8564:
8561:
8559:
8556:
8554:
8551:
8549:
8546:
8544:
8541:
8539:
8536:
8534:
8531:
8529:
8526:
8524:
8521:
8519:
8516:
8514:
8511:
8509:
8506:
8504:
8501:
8499:
8496:
8494:
8491:
8489:
8486:
8484:
8481:
8479:
8476:
8474:
8471:
8469:
8466:
8464:
8461:
8459:
8456:
8454:
8451:
8449:
8446:
8444:
8441:
8439:
8436:
8434:
8431:
8429:
8426:
8424:
8421:
8419:
8416:
8414:
8411:
8409:
8406:
8404:
8401:
8399:
8396:
8394:
8391:
8389:
8386:
8384:
8381:
8379:
8376:
8374:
8371:
8369:
8366:
8364:
8361:
8359:
8356:
8354:
8351:
8349:
8346:
8344:
8341:
8339:
8336:
8334:
8333:de Mandeville
8331:
8330:
8328:
8324:
8319:
8313:
8310:
8308:
8305:
8303:
8300:
8298:
8295:
8293:
8290:
8288:
8285:
8281:
8278:
8277:
8276:
8275:New classical
8273:
8269:
8266:
8265:
8264:
8261:
8259:
8256:
8254:
8251:
8247:
8244:
8243:
8242:
8239:
8237:
8234:
8232:
8231:Malthusianism
8229:
8223:
8220:
8219:
8218:
8215:
8213:
8210:
8207:
8203:
8200:
8199:
8198:
8195:
8193:
8192:Institutional
8190:
8188:
8185:
8183:
8180:
8178:
8175:
8173:
8170:
8168:
8165:
8163:
8160:
8158:
8155:
8153:
8150:
8148:
8145:
8143:
8140:
8138:
8135:
8133:
8130:
8126:
8123:
8122:
8121:
8118:
8116:
8113:
8111:
8108:
8106:
8103:
8099:
8096:
8095:
8094:
8091:
8089:
8086:
8084:
8081:
8079:
8076:
8074:
8071:
8070:
8068:
8063:
8058:
8053:
8045:
8042:
8040:
8037:
8035:
8032:
8030:
8027:
8025:
8022:
8020:
8017:
8015:
8012:
8010:
8007:
8005:
8002:
8000:
7996:
7995:Public choice
7993:
7991:
7988:
7986:
7983:
7981:
7978:
7976:
7973:
7971:
7970:Participation
7968:
7966:
7963:
7961:
7958:
7956:
7953:
7951:
7948:
7946:
7943:
7941:
7938:
7936:
7933:
7931:
7930:Institutional
7928:
7926:
7923:
7921:
7918:
7916:
7913:
7911:
7908:
7906:
7903:
7901:
7898:
7896:
7893:
7891:
7888:
7886:
7883:
7881:
7880:Expeditionary
7878:
7876:
7873:
7871:
7870:Environmental
7868:
7866:
7863:
7861:
7858:
7856:
7853:
7851:
7848:
7846:
7843:
7841:
7838:
7836:
7833:
7831:
7828:
7826:
7823:
7821:
7818:
7816:
7813:
7812:
7808:
7806:
7802:
7796:
7793:
7791:
7788:
7784:
7781:
7780:
7779:
7776:
7775:
7773:
7771:
7767:
7761:
7758:
7756:
7753:
7749:
7746:
7745:
7744:
7741:
7739:
7736:
7734:
7731:
7729:
7726:
7722:
7719:
7717:
7714:
7712:
7709:
7707:
7704:
7702:
7699:
7698:
7697:
7694:
7693:
7691:
7689:
7685:
7681:
7674:
7669:
7667:
7662:
7660:
7655:
7654:
7651:
7645:
7642:
7640:
7637:
7634:
7630:
7627:
7625:
7622:
7620:
7616:
7613:
7611:
7608:
7607:
7598:
7594:
7590:
7584:
7580:
7579:
7573:
7563:
7559:
7555:
7551:
7547:
7543:
7538:
7534:
7528:
7524:
7520:
7515:
7511:
7505:
7501:
7500:
7494:
7490:
7484:
7480:
7475:
7471:
7465:
7461:
7456:
7455:
7449:
7445:
7441:
7437:
7432:
7428:
7422:
7418:
7414:
7410:
7406:
7402:
7398:
7392:
7388:
7383:
7382:
7370:
7364:
7360:
7356:
7352:
7346:
7338:
7332:
7328:
7324:
7320:
7314:
7306:
7302:
7298:
7294:
7290:
7286:
7279:
7271:
7267:
7262:
7257:
7253:
7249:
7245:
7241:
7234:
7227:
7225:
7216:
7210:
7206:
7202:
7201:
7196:
7189:
7181:
7177:
7173:
7169:
7165:
7161:
7156:
7151:
7147:
7143:
7136:
7128:
7124:
7123:
7118:
7117:Lucas, Robert
7112:
7104:
7100:
7096:
7092:
7087:
7082:
7079:(2): 535–68.
7078:
7074:
7067:
7059:
7053:
7049:
7045:
7039:
7037:
7028:
7024:
7020:
7016:
7015:
7007:
6998:
6993:
6989:
6985:
6981:
6977:
6970:
6963:
6955:
6951:
6947:
6943:
6936:
6928:
6926:9780072877304
6922:
6918:
6911:
6903:
6899:
6895:
6891:
6887:
6883:
6879:
6875:
6871:
6864:
6856:
6852:
6848:
6844:
6840:
6836:
6829:
6821:
6817:
6813:
6809:
6805:
6801:
6794:
6792:
6783:
6779:
6774:
6769:
6765:
6761:
6757:
6756:"Harrod 1939"
6750:
6742:
6738:
6734:
6730:
6726:
6721:
6716:
6712:
6708:
6704:
6700:
6694:
6692:
6683:
6679:
6675:
6671:
6664:
6662:
6655:
6650:
6646:
6642:
6638:
6634:
6630:
6629:
6624:
6618:
6612:
6610:
6606:
6601:
6595:
6588:
6584:
6582:
6578:
6571:
6563:
6559:
6555:
6551:
6547:
6541:
6539:
6532:
6527:
6523:
6518:
6513:
6509:
6505:
6501:
6497:
6496:
6491:
6487:
6481:
6479:
6477:
6468:
6462:
6458:
6453:
6452:
6443:
6439:
6412:
6404:
6398:
6395:
6389:
6383:
6360:
6354:
6351:
6348:
6342:
6336:
6333:
6330:
6324:
6318:
6315:
6312:
6306:
6300:
6297:
6294:
6285:
6279:
6273:
6267:
6259:
6253:
6247:
6244:
6235:
6229:
6223:
6217:
6209:
6203:
6197:
6194:
6185:
6179:
6173:
6167:
6159:
6153:
6147:
6144:
6135:
6129:
6123:
6117:
6109:
6103:
6097:
6094:
6088:
6079:
6076:
6053:
6033:
6007:
6001:
5993:
5984:
5981:
5949:
5943:
5935:
5926:
5923:
5893:
5887:
5884:
5881:
5875:
5869:
5866:
5863:
5857:
5848:
5845:
5816:
5810:
5802:
5793:
5790:
5775:
5769:
5763:
5757:
5749:
5743:
5737:
5728:
5722:
5714:
5705:
5702:
5687:
5681:
5675:
5669:
5661:
5655:
5649:
5640:
5634:
5628:
5622:
5614:
5605:
5602:
5593:
5584:
5575:
5572:
5563:
5557:
5554:
5548:
5539:
5536:
5527:
5521:
5510:
5499:
5493:
5487:
5481:
5470:
5464:
5458:
5449:
5443:
5437:
5431:
5423:
5414:
5411:
5402:
5396:
5387:
5384:
5371:
5351:
5343:
5337:
5334:
5326:
5315:
5309:
5303:
5297:
5287:
5279:
5273:
5267:
5258:
5252:
5246:
5240:
5233:
5230:
5227:
5216:
5210:
5204:
5198:
5190:
5182:
5176:
5170:
5161:
5155:
5149:
5143:
5135:
5129:
5123:
5117:
5111:
5101:
5093:
5087:
5083:
5079:
5075:
5069:
5065:
5061:
5057:
5056:
5051:
5050:Tinbergen, J.
5044:
5040:
5030:
5027:
5025:
5022:
5021:
5015:
5013:
5009:
5005:
5001:
4995:
4991:
4988:
4985:
4982:
4979:
4978:
4977:
4975:
4969:
4967:
4961:
4958:
4954:
4951:will tend to
4950:
4940:
4938:
4928:
4905:
4902:
4899:
4891:
4887:
4883:
4873:
4865:
4861:
4857:
4849:
4846:
4843:
4839:
4835:
4829:
4823:
4815:
4806:
4803:
4800:
4797:
4790:
4789:
4788:
4779:
4764:
4741:
4726:
4710:
4700:
4696:
4687:
4677:
4673:
4666:
4661:
4657:
4629:
4626:
4623:
4620:
4617:
4613:
4607:
4601:
4598:
4595:
4592:
4589:
4582:
4579:
4576:
4571:
4567:
4561:
4556:
4552:
4545:
4540:
4535:
4531:
4523:
4505:
4502:
4499:
4496:
4493:
4489:
4483:
4477:
4474:
4471:
4468:
4465:
4458:
4453:
4449:
4443:
4440:
4437:
4432:
4428:
4421:
4416:
4411:
4407:
4399:
4398:
4397:
4383:
4363:
4343:
4340:
4337:
4331:
4328:
4325:
4322:
4319:
4313:
4308:
4304:
4298:
4294:
4288:
4284:
4263:
4260:
4257:
4251:
4248:
4245:
4242:
4239:
4233:
4228:
4224:
4218:
4214:
4208:
4204:
4183:
4180:
4174:
4171:
4165:
4159:
4156:
4130:
4124:
4121:
4118:
4115:
4112:
4106:
4101:
4097:
4091:
4087:
4081:
4077:
4073:
4067:
4064:
4054:
4040:
4034:
4031:
4028:
4025:
4022:
4016:
4011:
4007:
4001:
3997:
3991:
3987:
3983:
3977:
3974:
3964:
3963:
3962:
3946:
3942:
3938:
3933:
3929:
3925:
3922:
3899:
3893:
3890:
3870:
3847:
3841:
3818:
3813:
3810:
3807:
3804:
3801:
3790:
3784:
3778:
3772:
3764:
3756:
3750:
3745:
3737:
3731:
3728:
3722:
3716:
3709:
3708:
3707:
3704:
3702:
3701:human capital
3698:
3697:David N. Weil
3694:
3690:
3675:
3661:
3635:
3631:
3628:
3622:
3617:
3610:
3602:
3593:
3587:
3584:
3577:
3576:
3575:
3562:
3555:
3536:
3528:
3515:
3510:
3506:
3492:
3488:
3484:
3464:
3460:
3456:
3435:
3431:
3427:
3407:
3379:
3376:
3373:
3365:
3361:
3357:
3347:
3344:
3341:
3337:
3333:
3327:
3321:
3313:
3304:
3301:
3298:
3295:
3288:
3287:
3286:
3269:
3263:
3243:
3223:
3220:
3216:
3206:
3204:
3182:
3179:
3176:
3173:
3170:
3166:
3161:
3152:
3146:
3138:
3132:
3122:
3121:
3120:
3104:
3100:
3077:
3074:
3071:
3063:
3057:
3054:
3045:
3039:
3031:
3025:
3013:
3011:
2995:
2966:
2963:
2960:
2953:
2949:
2944:
2938:
2935:
2932:
2929:
2926:
2922:
2917:
2912:
2907:
2903:
2895:
2894:
2893:
2877:
2873:
2850:
2846:
2822:
2819:
2816:
2793:
2790:
2770:
2741:
2738:
2735:
2728:
2724:
2719:
2713:
2710:
2707:
2704:
2701:
2697:
2692:
2687:
2682:
2678:
2670:
2669:
2668:
2651:
2645:
2639:
2636:
2633:
2630:
2627:
2621:
2616:
2608:
2602:
2599:
2592:, defined by
2577:
2573:
2549:
2543:
2523:
2500:
2494:
2488:
2485:
2482:
2479:
2476:
2450:
2444:
2424:
2401:
2395:
2392:
2389:
2384:
2376:
2370:
2367:
2341:
2335:
2329:
2326:
2323:
2320:
2317:
2311:
2306:
2298:
2292:
2289:
2286:
2280:
2271:
2268:
2258:
2257:
2256:
2242:
2235:
2214:
2206:
2200:
2197:
2188:
2182:
2176:
2170:
2162:
2156:
2150:
2144:
2138:
2131:
2130:
2129:
2115:
2108:
2104:
2101:has constant
2085:
2082:
2079:
2076:
2070:
2061:
2044:
2041:
2033:
2027:
2024:
1998:
1995:
1965:
1959:
1956:
1953:
1950:
1944:
1938:
1935:
1932:
1929:
1923:
1914:
1911:
1901:
1900:
1899:
1897:
1893:
1877:
1874:
1871:
1868:
1865:
1857:
1841:
1838:
1835:
1832:
1829:
1806:
1800:
1797:
1777:
1769:
1765:
1746:
1743:
1740:
1714:
1708:
1702:
1696:
1671:
1668:
1664:
1657:
1651:
1648:
1642:
1636:
1629:
1613:
1610:
1606:
1599:
1593:
1590:
1584:
1578:
1571:
1570:
1569:
1555:
1535:
1512:
1506:
1483:
1477:
1454:
1448:
1428:
1425:
1417:
1401:
1378:
1372:
1352:
1349:
1346:
1343:
1340:
1320:
1294:
1291:
1288:
1277:
1271:
1265:
1259:
1251:
1243:
1237:
1234:
1228:
1222:
1215:
1214:
1213:
1211:
1207:
1203:
1187:
1167:
1159:
1155:
1151:
1141:
1139:
1135:
1126:
1122:
1119:
1116:
1112:
1111:
1110:
1107:
1105:
1101:
1088:
1084:
1080:
1077:
1072:
1068:
1065:
1064:
1063:
1061:
1051:
1048:
1043:
1036:
1033:
1029:
1026:
1025:
1024:
1022:
1017:
1007:
1005:
1001:
997:
993:
989:
979:
975:
973:
969:
958:
956:
952:
948:
944:
940:
936:
935:
930:
926:
921:
919:
916:
912:
908:
904:
900:
896:
892:
888:
884:
880:
876:
872:
868:
856:
851:
849:
844:
842:
837:
836:
834:
833:
828:
823:
818:
816:
806:
805:
804:
803:
796:
793:
791:
788:
786:
783:
779:
776:
775:
774:
771:
769:
766:
764:
761:
760:
754:
753:
746:
743:
741:
738:
736:
733:
731:
728:
726:
723:
721:
720:Peter Diamond
718:
716:
713:
711:
708:
706:
705:Edmund Phelps
703:
701:
698:
696:
693:
691:
688:
686:
683:
681:
680:Richard Stone
678:
676:
673:
671:
668:
666:
665:Joan Robinson
663:
661:
660:Simon Kuznets
658:
656:
655:Gunnar Myrdal
653:
651:
648:
646:
643:
641:
638:
636:
633:
631:
630:Irving Fisher
628:
626:
625:Knut Wicksell
623:
621:
618:
616:
613:
611:
608:
606:
603:
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532:
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522:
520:
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500:
499:
498:
497:New classical
495:
493:
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486:
483:
481:
478:
477:
476:
473:
472:
471:
466:
461:
460:
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251:Shrinkflation
249:
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222:
220:
217:
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166:
165:
164:
161:
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154:
151:
149:
148:Interest rate
146:
142:
139:
137:
134:
133:
132:
129:
127:
124:
122:
119:
115:
112:
110:
107:
106:
105:Expectations
104:
102:
99:
97:
94:
92:
89:
87:
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82:
79:
77:
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67:
64:
63:
57:
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44:
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40:
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8744:Publications
8700:Publications
8667:
8263:Neoclassical
8253:Mercantilism
8162:Evolutionary
8024:Sociological
7997: /
7895:Geographical
7875:Evolutionary
7850:Digitization
7815:Agricultural
7778:Econometrics
7706:Price theory
7577:
7565:. Retrieved
7556:): 229–251.
7553:
7549:
7545:
7522:
7498:
7478:
7453:
7435:
7416:
7386:
7358:
7345:
7326:
7313:
7288:
7284:
7278:
7243:
7239:
7199:
7188:
7145:
7141:
7135:
7126:
7120:
7111:
7076:
7072:
7066:
7047:
7044:Romer, David
7018:
7012:
7006:
6979:
6975:
6962:
6945:
6941:
6935:
6916:
6910:
6877:
6873:
6863:
6838:
6834:
6828:
6806:(1): 79–96.
6803:
6799:
6763:
6759:
6749:
6710:
6706:
6673:
6669:
6632:
6626:
6617:
6608:
6604:
6599:
6594:
6580:
6576:
6570:
6553:
6549:
6502:(1): 65–94.
6499:
6493:
6450:
6442:
5370:
5100:
5081:
5059:
5053:
5043:
5002:
4999:
4994:trade policy
4990:Free markets
4973:
4970:
4962:
4956:
4946:
4934:
4925:
4785:
4732:
4648:
4145:
3833:
3705:
3686:
3653:
3512:Because the
3511:
3507:
3399:
3207:
3200:
3014:
2987:
2762:
2359:
2231:
2106:
2062:
1984:
1688:
1312:
1147:
1140:", not ALP.
1130:
1124:
1114:
1108:
1097:
1087:productivity
1082:
1075:
1057:
1040:
1013:
1000:Cobb–Douglas
985:
976:
964:
932:
922:
907:Robert Solow
899:Cobb–Douglas
891:productivity
877:of long-run
870:
866:
864:
740:Paul Krugman
685:Hyman Minsky
645:Alvin Hansen
529:
528:
469:
432:Econometrics
409:Overshooting
366:
362:Harrod–Domar
357:Arrow–Debreu
304:Central bank
271:Unemployment
261:Supply shock
219:Money supply
96:Disinflation
91:Demand shock
8538:von Neumann
8307:Supply-side
8292:Physiocracy
8236:Marginalism
7925:Information
7865:Engineering
7845:Development
7840:Demographic
7711:Game theory
7688:Theoretical
7129:(2): 92–96.
6583:(3):233-240
5074:Brems, Hans
5062:: 511–549.
5004:Econometric
3693:David Romer
3552:equals the
1768:depreciates
1766:of capital
1054:Assumptions
1021:convergence
951:saving rate
945:integrated
911:Trevor Swan
885:, labor or
620:Léon Walras
514:Supply-side
347:Accelerator
256:Stagflation
241:Price level
136:Demand-pull
8763:Categories
8695:Economists
8568:Schumacher
8473:Schumpeter
8443:von Wieser
8363:von Thünen
8323:Economists
8222:Circuitism
8187:Humanistic
8182:Historical
8157:Ecological
8147:Democratic
8120:Chartalism
8110:Behavioral
8073:Mainstream
8034:Statistics
8029:Solidarity
7950:Managerial
7915:Humanistic
7910:Historical
7855:Ecological
7820:Behavioral
7567:2017-11-29
6997:10438/1012
6737:7046600490
6435:References
1892:investment
961:Background
939:David Cass
934:per capita
675:John Hicks
605:Adam Smith
563:Circuitism
553:Ecological
541:Chartalism
492:Monetarism
470:Mainstream
367:Solow–Swan
342:Multiplier
299:Commercial
195:Endogenous
153:Investment
8613:Greenspan
8578:Samuelson
8558:Galbraith
8528:Tinbergen
8468:von Mises
8463:Heckscher
8423:Edgeworth
8302:Stockholm
8297:Socialist
8197:Keynesian
8177:Happiness
8137:Classical
8098:Mutualism
8093:Anarchist
8078:Heterodox
7975:Personnel
7935:Knowledge
7900:Happiness
7890:Financial
7860:Education
7835:Democracy
7770:Empirical
7680:Economics
7305:154380029
7270:154355849
7261:10784/578
7150:CiteSeerX
7081:CiteSeerX
6902:153351897
6894:0967-2567
6782:1468-0297
6729:2326-3652
6699:Eric Frey
6413:α
6349:−
6331:−
6316:δ
6313:−
6245:−
6195:−
6148:δ
6145:−
6080:˙
5985:˙
5927:˙
5885:δ
5882:−
5849:˙
5794:˙
5738:−
5706:˙
5650:−
5606:˙
5576:˙
5540:˙
5459:−
5415:˙
5388:˙
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5327:α
5288:α
5234:α
5231:−
5191:α
4981:Education
4906:α
4903:−
4874:β
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4847:−
4836:α
4821:∂
4813:∂
4765:β
4742:β
4711:β
4701:∗
4688:α
4678:∗
4662:∗
4630:β
4627:−
4624:α
4621:−
4602:δ
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4562:α
4536:∗
4506:β
4503:−
4500:α
4497:−
4478:δ
4459:β
4444:β
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4412:∗
4332:δ
4314:−
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4299:α
4252:δ
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4219:α
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4160:˙
4125:δ
4107:−
4102:β
4092:α
4068:˙
4035:δ
4017:−
4012:β
4002:α
3978:˙
3871:δ
3814:β
3811:−
3808:α
3805:−
3765:β
3746:α
3687:In 1992,
3662:α
3608:∂
3600:∂
3585:α
3534:∂
3526:∂
3380:α
3377:−
3348:α
3345:−
3334:α
3319:∂
3311:∂
3217:α
3183:δ
3105:∗
3078:α
3075:−
2967:α
2964:−
2950:α
2939:δ
2908:∗
2878:∗
2851:∗
2742:α
2739:−
2714:δ
2683:∗
2640:δ
2617:α
2578:∗
2489:δ
2385:α
2330:δ
2312:−
2307:α
2272:˙
2215:α
1999:˙
1957:⋅
1954:δ
1951:−
1936:⋅
1915:˙
1875:−
1778:δ
1416:knowledge
1347:α
1295:α
1292:−
1252:α
1160:, labor (
1132:apparent
915:Keynesian
773:Economics
615:Karl Marx
530:Heterodox
509:Stockholm
475:Keynesian
246:Recession
141:Cost-push
131:Inflation
86:Deflation
8724:Category
8704:journals
8690:Glossary
8643:Stiglitz
8608:Rothbard
8588:Buchanan
8573:Friedman
8563:Koopmans
8553:Leontief
8533:Robinson
8418:Marshall
8268:Lausanne
8172:Georgism
8167:Feminist
8115:Buddhist
8105:Austrian
8004:Regional
7980:Planning
7955:Monetary
7885:Feminist
7830:Cultural
7825:Business
7411:(2004).
6820:23599721
6741:Archived
6701:(2017).
6603:Giri R (
6600:see also
5835:. Since
5076:(1986).
5068:40430851
5018:See also
4957:converge
4955:with or
4953:catch up
4396:yields:
3654:so that
3119:we have
1856:consumed
1418:”, thus
1200:) in an
1089:growth).
757:See also
536:Austrian
294:Monetary
283:Policies
114:Rational
109:Adaptive
35:a series
33:Part of
8739:Outline
8710:Schools
8702: (
8663:Piketty
8658:Krugman
8523:Kuznets
8513:Kalecki
8488:Polanyi
8378:Cournot
8373:Bastiat
8358:Ricardo
8348:Malthus
8338:Quesnay
8241:Marxian
8132:Chicago
8062:history
8057:Schools
8044:Welfare
8014:Service
7805:Applied
7180:1369978
7172:2118477
7103:9329404
6954:1816469
6855:2225181
6649:1926047
6605:undated
6526:1884513
778:Applied
575:Marxian
465:Schools
8648:Thaler
8628:Ostrom
8623:Becker
8618:Sowell
8598:Baumol
8503:Myrdal
8498:Sraffa
8493:Frisch
8483:Knight
8478:Keynes
8453:Fisher
8448:Veblen
8433:Pareto
8413:Menger
8408:George
8403:Jevons
8398:Walras
8388:Gossen
8312:Thermo
7990:Public
7985:Policy
7940:Labour
7905:Health
7585:
7529:
7506:
7485:
7466:
7423:
7393:
7365:
7333:
7303:
7268:
7211:
7205:73–114
7178:
7170:
7152:
7101:
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7054:
6952:
6923:
6900:
6892:
6853:
6818:
6780:
6735:
6727:
6647:
6524:
6463:
5910:, and
5088:
5071:. See
5066:
4983:policy
3834:where
3695:, and
3208:Since
1985:where
1499:, and
1313:where
1047:DeLong
1042:Baumol
873:is an
593:People
321:Models
289:Fiscal
266:Saving
126:Growth
8734:Lists
8729:Index
8680:Lists
8653:Hoppe
8638:Lucas
8603:Solow
8593:Arrow
8583:Simon
8548:Lange
8543:Hicks
8518:Röpke
8508:Hayek
8458:Pigou
8428:Clark
8343:Smith
8258:Mixed
8217:Post-
8039:Urban
8019:Socio
8009:Rural
7462:–75.
7301:S2CID
7266:S2CID
7236:(PDF)
7176:S2CID
7168:JSTOR
7099:S2CID
6972:(PDF)
6950:JSTOR
6898:S2CID
6851:JSTOR
6816:JSTOR
6645:JSTOR
6587:jstor
6522:JSTOR
6459:–76.
5064:JSTOR
5035:Notes
4966:Japan
1854:) is
1822:with
1764:stock
414:NAIRU
332:AD–AS
327:IS–LM
190:Money
8669:more
8393:Marx
8383:Mill
8368:List
8246:Neo-
8202:Neo-
7583:ISBN
7527:ISBN
7504:ISBN
7483:ISBN
7464:ISBN
7421:ISBN
7391:ISBN
7363:ISBN
7331:ISBN
7209:ISBN
7052:ISBN
6921:ISBN
6890:ISSN
6778:ISSN
6733:OCLC
6725:ISSN
6654:Pdf.
6531:Pdf.
6461:ISBN
6046:and
6026:are
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4376:and
4276:and
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1890:for
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1154:good
941:and
909:and
865:The
480:Neo-
387:DSGE
81:CAGR
8633:Sen
8353:Say
8212:New
7945:Law
7617:by
7558:doi
7293:doi
7256:hdl
7248:doi
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7091:doi
7077:122
7023:doi
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6984:doi
6882:doi
6843:doi
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6768:doi
6764:125
6715:doi
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6637:doi
6558:doi
6512:hdl
6504:doi
1125:MFP
1115:ALP
869:or
485:New
229:SNA
178:NNI
173:GNI
168:GDP
8765::
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4469:+
4466:n
4454:H
4450:s
4438:1
4433:K
4429:s
4422:(
4417:=
4408:k
4384:h
4364:k
4344:0
4341:=
4338:h
4335:)
4329:+
4326:g
4323:+
4320:n
4317:(
4305:h
4295:k
4289:H
4285:s
4264:0
4261:=
4258:k
4255:)
4249:+
4246:g
4243:+
4240:n
4237:(
4225:h
4215:k
4209:K
4205:s
4184:0
4181:=
4172:h
4166:=
4157:k
4131:h
4128:)
4122:+
4119:g
4116:+
4113:n
4110:(
4098:h
4088:k
4082:H
4078:s
4074:=
4065:h
4041:k
4038:)
4032:+
4029:g
4026:+
4023:n
4020:(
4008:h
3998:k
3992:K
3988:s
3984:=
3975:k
3947:H
3943:s
3939:+
3934:K
3930:s
3926:=
3923:s
3903:)
3900:t
3897:(
3894:Y
3891:s
3851:)
3848:t
3845:(
3842:H
3819:,
3802:1
3798:)
3794:)
3791:t
3788:(
3785:L
3782:)
3779:t
3776:(
3773:A
3770:(
3761:)
3757:t
3754:(
3751:H
3742:)
3738:t
3735:(
3732:K
3729:=
3726:)
3723:t
3720:(
3717:Y
3636:Y
3632:K
3629:r
3623:=
3618:Y
3611:K
3603:Y
3594:K
3588:=
3563:r
3537:K
3529:Y
3493:L
3489:/
3485:Y
3465:L
3461:/
3457:K
3436:L
3432:/
3428:K
3408:A
3374:1
3370:)
3366:L
3362:/
3358:K
3355:(
3342:1
3338:A
3328:=
3322:K
3314:Y
3305:=
3302:K
3299:P
3296:M
3273:)
3270:t
3267:(
3264:K
3244:t
3224:1
3180:+
3177:g
3174:+
3171:n
3167:s
3162:=
3156:)
3153:t
3150:(
3147:Y
3142:)
3139:t
3136:(
3133:K
3101:k
3072:1
3068:)
3064:t
3061:(
3058:k
3055:=
3049:)
3046:t
3043:(
3040:Y
3035:)
3032:t
3029:(
3026:K
2996:Y
2970:)
2961:1
2958:(
2954:/
2945:)
2936:+
2933:g
2930:+
2927:n
2923:s
2918:(
2913:=
2904:y
2874:k
2847:y
2826:)
2823:g
2820:+
2817:n
2814:(
2794:L
2791:A
2771:K
2745:)
2736:1
2733:(
2729:/
2725:1
2720:)
2711:+
2708:g
2705:+
2702:n
2698:s
2693:(
2688:=
2679:k
2655:)
2652:t
2649:(
2646:k
2643:)
2637:+
2634:g
2631:+
2628:n
2625:(
2622:=
2613:)
2609:t
2606:(
2603:k
2600:s
2574:k
2553:)
2550:t
2547:(
2544:k
2524:k
2504:)
2501:t
2498:(
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2492:)
2486:+
2483:g
2480:+
2477:n
2474:(
2454:)
2451:t
2448:(
2445:y
2425:s
2405:)
2402:t
2399:(
2396:y
2393:s
2390:=
2381:)
2377:t
2374:(
2371:k
2368:s
2345:)
2342:t
2339:(
2336:k
2333:)
2327:+
2324:g
2321:+
2318:n
2315:(
2303:)
2299:t
2296:(
2293:k
2290:s
2287:=
2284:)
2281:t
2278:(
2269:k
2243:k
2211:)
2207:t
2204:(
2201:k
2198:=
2192:)
2189:t
2186:(
2183:L
2180:)
2177:t
2174:(
2171:A
2166:)
2163:t
2160:(
2157:Y
2151:=
2148:)
2145:t
2142:(
2139:y
2116:y
2089:)
2086:L
2083:A
2080:,
2077:K
2074:(
2071:Y
2045:t
2042:d
2037:)
2034:t
2031:(
2028:K
2025:d
1996:K
1969:)
1966:t
1963:(
1960:K
1948:)
1945:t
1942:(
1939:Y
1933:s
1930:=
1927:)
1924:t
1921:(
1912:K
1878:c
1872:1
1869:=
1866:s
1842:1
1836:c
1830:0
1810:)
1807:t
1804:(
1801:Y
1798:c
1750:)
1747:g
1744:+
1741:n
1738:(
1718:)
1715:t
1712:(
1709:L
1706:)
1703:t
1700:(
1697:A
1672:t
1669:g
1665:e
1661:)
1658:0
1655:(
1652:A
1649:=
1646:)
1643:t
1640:(
1637:A
1614:t
1611:n
1607:e
1603:)
1600:0
1597:(
1594:L
1591:=
1588:)
1585:t
1582:(
1579:L
1556:g
1536:n
1516:)
1513:0
1510:(
1507:L
1487:)
1484:0
1481:(
1478:K
1458:)
1455:0
1452:(
1449:A
1429:L
1426:A
1402:A
1382:)
1379:t
1376:(
1373:Y
1353:1
1341:0
1321:t
1289:1
1285:)
1281:)
1278:t
1275:(
1272:L
1269:)
1266:t
1263:(
1260:A
1257:(
1248:)
1244:t
1241:(
1238:K
1235:=
1232:)
1229:t
1226:(
1223:Y
1188:K
1168:L
1123:(
1034:;
854:e
847:t
840:v
20:)
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