Statements (47)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
gptkb:economic_policy
|
| gptkbp:alternativeName |
gptkb:Solow_model
neoclassical growth model |
| gptkbp:assumes |
no government
perfect competition full employment aggregate production function constant returns to scale closed economy diminishing returns to capital exogenous technological progress diminishing returns to labor |
| gptkbp:capitalDepreciationRate |
gptkb:government_agency
|
| gptkbp:criticizedFor |
exogenous technology assumption
ignoring human capital ignoring institutions |
| gptkbp:describes |
long-term economic growth
|
| gptkbp:explains |
convergence
steady-state growth role of population growth role of savings rate role of technological progress |
| gptkbp:field |
macroeconomics
economic growth theory |
| gptkbp:focusesOn |
technological progress
capital accumulation labor force growth |
| gptkbp:form |
Y = F(K, L)
|
| https://www.w3.org/2000/01/rdf-schema#label |
Solow–Swan growth model
|
| gptkbp:influenced |
endogenous growth theory
|
| gptkbp:influencedBy |
classical economics
neoclassical economics |
| gptkbp:introduced |
gptkb:Robert_Solow
gptkb:Trevor_Swan |
| gptkbp:introducedIn |
1956
|
| gptkbp:outputMeasuredBy |
real GDP
|
| gptkbp:populationGrowthRate |
n
|
| gptkbp:publishedIn |
gptkb:The_Quarterly_Journal_of_Economics
|
| gptkbp:relatedTo |
gptkb:Ramsey–Cass–Koopmans_model
gptkb:Harrod–Domar_model |
| gptkbp:savingsRate |
s
|
| gptkbp:steadyStateCondition |
s f(k) = (n + g + δ)k
|
| gptkbp:technologicalProgressRate |
g
|
| gptkbp:usedFor |
policy analysis
cross-country growth comparisons |
| gptkbp:bfsParent |
gptkb:Robert_Solow
|
| gptkbp:bfsLayer |
4
|