Neoclassical Growth Theory

GPTKB entity

Predicate	Object
gptkbp:instanceOf	gptkb:economic_policy
gptkbp:assumes	Constant returns to scale Diminishing returns to capital Exogenous technological progress
gptkbp:contrastsWith	gptkb:Endogenous_growth_theory
gptkbp:criticizedFor	Assuming exogenous technology Neglecting human capital
gptkbp:emphasizes	Labor force growth Role of capital accumulation Technological progress
gptkbp:explains	Convergence hypothesis
gptkbp:field	gptkb:Macroeconomics
gptkbp:focusesOn	Long-term economic growth
gptkbp:form	gptkb:Cobb-Douglas_production_function
https://www.w3.org/2000/01/rdf-schema#label	Neoclassical Growth Theory
gptkbp:influenced	Modern growth economics
gptkbp:introducedIn	1956
gptkbp:keyModel	gptkb:Solow-Swan_model
gptkbp:originatedIn	gptkb:Robert_Solow gptkb:Trevor_Swan
gptkbp:predicts	Conditional convergence Steady-state growth
gptkbp:relatedTo	gptkb:Harrod-Domar_model gptkb:Ramsey-Cass-Koopmans_model
gptkbp:usedIn	gptkb:Development_economics Policy analysis
gptkbp:bfsParent	gptkb:Endogenous_Growth_Theory gptkb:Modern_Growth_Theory
gptkbp:bfsLayer	6