Learning Strategies In Modelling Economic Growth
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Learning Strategies In Modelling Economic Growth
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Author : Juan Gabriel Brida
language : en
Publisher:
Release Date : 2018
Learning Strategies In Modelling Economic Growth written by Juan Gabriel Brida and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
Modern theories of economic growth recognize human capital as the main factor of growth. Strong investments of countries in education and research are justified by this fact. However, there are few studies analyzing the interaction between the development of human capital and the economic growth of countries. In particular, it is difficult to find in the modern literature papers that model growth economics with learning strategies and generally this works take human capital as exogenous to the model. In this paper we introduce in the very well known model of Romer (1990) (see also version in Romer (1996)) a modification to obtain a model of economic growth with learning strategies (see Bustillos and Oliveira (2004), Mingfeng et al. (2006) and Penna (1995), Huang and Stauffer (2001), Maksymowicz et al. (2008), Mingfeng et al. (2006), Oliveira (1998), Pan et al. (2005), Penna (1995), Stauffer (2007) ). In particular, we applied a version of the Bustillos and Oliveira model to a model of economic growth depending on knowledge. We explain that economic growth is determined by two ways of learning: 1)quot;individual learningquot;: individual cumulates knowledge by interacting with its natural environment, in a process of trial-and error; 2) quot;social learningquot;: individuals spending time near another (quot;teacherquot;) can learn and cumulate knowledge. We analyze the model conducting simulations, obtaining implication of economic policy.
Computational Techniques For Modelling Learning In Economics
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Author : Thomas Brenner
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Computational Techniques For Modelling Learning In Economics written by Thomas Brenner and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
Computational Techniques for Modelling Learning in Economics offers a critical overview of the computational techniques that are frequently used for modelling learning in economics. It is a collection of papers, each of which focuses on a different way of modelling learning, including the techniques of evolutionary algorithms, genetic programming, neural networks, classifier systems, local interaction models, least squares learning, Bayesian learning, boundedly rational models and cognitive learning models. Each paper describes the technique it uses, gives an example of its applications, and discusses the advantages and disadvantages of the technique. Hence, the book offers some guidance in the field of modelling learning in computation economics. In addition, the material contains state-of-the-art applications of the learning models in economic contexts such as the learning of preference, the study of bidding behaviour, the development of expectations, the analysis of economic growth, the learning in the repeated prisoner's dilemma, and the changes of cognitive models during economic transition. The work even includes innovative ways of modelling learning that are not common in the literature, for example the study of the decomposition of task or the modelling of cognitive learning.
A Model For Implementing Sustainable And Qualitative Growth
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Author : Sebastiano Sabato
language : en
Publisher: Wilfried Martens Centre for European Studies
Release Date : 2014-05-22
A Model For Implementing Sustainable And Qualitative Growth written by Sebastiano Sabato and has been published by Wilfried Martens Centre for European Studies this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-05-22 with Political Science categories.
PDF can be downloaded for free from: http://martenscentre.eu/publications/model-implementing-sustainable-and-qualitative-growth-eu The period since the outbreak of the financial, economic and social crises in Europe has witnessed a renewed focus on the need to develop a more sustainable and qualitative growth model. A model where the traditional focus on economic growth (i.e. GDP growth) is complemented by an adherence to a wider range of qualitative indicators. Indicators which more broadly characterise the well-being of society as a whole. This paper defines a model for Sustainable and Qualitative Growth (SQG) in the EU and questions if existing EU economic and social governance arrangements are consistent with this wider approach to building a sustainable growth model. This paper identifies a number of key recommendations. First, a more encompassing, balanced and multi-dimensional EU strategy for growth should be adopted. This refined strategy should take into account the broader indicators underpinning the SQG model and should be addressed in key EU documents such as the Annual Growth Survey. Second, a symmetric and Ôtime consistentÕ macroeconomic strategy, allowing for investments in SQG related domains, should be pursued. These growth-enhancing investments should primarily target relevant policy areas such as education and training, technological innovation and lifelong learning strategies. Third, a common automatic stabiliser in the EU should be set up in order to provide a minimum level of EU investment across all member states.
Understanding Economic Growth
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Author : Jati Sengupta
language : en
Publisher: Springer Science & Business Media
Release Date : 2011-01-15
Understanding Economic Growth written by Jati Sengupta and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-01-15 with Business & Economics categories.
Modern economies have undergone a dramatic change. There has been a shift from large scale material manufacturing to the design and application of new technology with R&D and human capital. The new information age has introduced significant productivity gains through increasing returns and learning by doing, which has challenged the traditional growth models based on competitive market structures. Institutions outside the traditional markets and the genetic principle of survival of the fittest have dominated the current theory of industry growth. This book coordinates and integrates the two strands of economic growth and development: the endogenous theory of growth and the extra-market models of evolutionary economics dominated by innovation efficiency. It presents this new paradigm in terms of both theory and historical experiences. The book addresses the role of innovations and human capital, the impact of information technology, the role of institutions as mechanisms of evolutionary economies and the experiences of Asian growth miracles, and will be of interest to readers in economics and political science concerned with economic growth and development.
Green Growth Managing The Transition To A Sustainable Economy
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Author : Diego A. Vazquez-Brust
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-05-24
Green Growth Managing The Transition To A Sustainable Economy written by Diego A. Vazquez-Brust and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-05-24 with Science categories.
This volume is a practical guide that helps the reader build a quick, evidence-based understanding of green-growth strategies and challenges. Its cogent analysis of real-life case studies enables policy makers and company executives identify successful strategies they can adopt, and pitfalls they can avoid, in drafting and implementing green growth policies. The contributors’ empirical assessment of these studies identifies the structural conditions required for economic growth to be compatible with environmental sustainability and how the transition to a new economic paradigm should be managed. A crucial addition to the debate now beginning in earnest around the world, this volume attempts to understand how we can nurture a new-born model of sustainable growth and help it evolve to maturity.
Learning From Learning By Doing
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Author : Robert M. Solow
language : en
Publisher:
Release Date : 2022
Learning From Learning By Doing written by Robert M. Solow and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022 with BUSINESS & ECONOMICS categories.
This book by a Nobel laureate in economics begins with a brief exposition of Kenneth J. Arrow's classic paper "The Economic Implications of Learning by Doing" (1962). It shows how Arrow's idea fits into the modern theory of economic growth, and uses it as a springboard for a critical consideration of spectacular recent developments that have made growth theory a dynamic topic today. The author then develops a new theory that combines learning by doing (identifying it with the concept of "continuous improvement") with a separate process of discrete "innovations." Learning by doing leads to a fairly smooth reduction in labor required per unit of output, tied to the rate of gross investment in new capital equipment. Innovations arrive at random; when one of them happens, the labor requirement takes a jump downward. This new model, simple as it is, does not lend itself to self-contained solution. The author accordingly presents the results of a series of computer simulations that exhibit the variety of paths the new model economy can follow, showing, among other things, that early good luck can have a persistent effect. The book concludes with some general reflections on policies for economic growth, drawn not from any one modeling exercise but from general experience with a variety of growth models. Of the four chapters of this book, the first two were presented as the Kenneth J. Arrow Lectures at Stanford University in 1993. The computer simulations were specially done for inclusion in this book. The final chapter on policies for economic growth was first presented as the Ernest Sturc Lecture at the Johns Hopkins School of Advanced International Studies in Washington in 1991.
Modeling Complexity In Economic And Social Systems
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Author : Frank Schweitzer
language : en
Publisher: World Scientific
Release Date : 2002
Modeling Complexity In Economic And Social Systems written by Frank Schweitzer and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Business & Economics categories.
Economics and the social sciences are, in fact, the ?hard? sciences, as Herbert Simon argued, because the complexity of the problems dealt with cannot simply be reduced to analytically solvable models or decomposed into separate subprocesses. Nevertheless, in recent years, the emerging interdisciplinary ?sciences of complexity? have provided new methods and tools for tackling these problems, ranging from complex data analysis to sophisticated computer simulations. In particular, advanced methods developed in the natural sciences have recently also been applied to social and economic problems.The twenty-one chapters of this book reflect this modern development from various modeling perspectives (such as agent-based models, evolutionary game theory, reinforcement learning and neural network techniques, time series analysis, non-equilibrium macroscopic dynamics) and for a broad range of socio-economic applications (market dynamics, technological evolution, spatial dynamics and economic growth, decision processes, and agent societies). They jointly demonstrate a shift of perspective in economics and the social sciences that is allowing a new outlook in this field to emerge.
The Economics Of Growth
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Author : Philippe Aghion
language : en
Publisher: MIT Press
Release Date : 2008-12-19
The Economics Of Growth written by Philippe Aghion and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-12-19 with Business & Economics categories.
A comprehensive, rigorous, and up-to-date introduction to growth economics that presents all the major growth paradigms and shows how they can be used to analyze the growth process and growth policy design. This comprehensive introduction to economic growth presents the main facts and puzzles about growth, proposes simple methods and models needed to explain these facts, acquaints the reader with the most recent theoretical and empirical developments, and provides tools with which to analyze policy design. The treatment of growth theory is fully accessible to students with a background no more advanced than elementary calculus and probability theory; the reader need not master all the subtleties of dynamic programming and stochastic processes to learn what is essential about such issues as cross-country convergence, the effects of financial development on growth, and the consequences of globalization. The book, which grew out of courses taught by the authors at Harvard and Brown universities, can be used both by advanced undergraduate and graduate students, and as a reference for professional economists in government or international financial organizations. The Economics of Growth first presents the main growth paradigms: the neoclassical model, the AK model, Romer's product variety model, and the Schumpeterian model. The text then builds on the main paradigms to shed light on the dynamic process of growth and development, discussing such topics as club convergence, directed technical change, the transition from Malthusian stagnation to sustained growth, general purpose technologies, and the recent debate over institutions versus human capital as the primary factor in cross-country income differences. Finally, the book focuses on growth policies—analyzing the effects of liberalizing market competition and entry, education policy, trade liberalization, environmental and resource constraints, and stabilization policy—and the methodology of growth policy design. All chapters include literature reviews and problem sets. An appendix covers basic concepts of econometrics.
Teaching The Solow Through The Building Of Economic Growth Scenarios
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Author : Adrián de León Arias
language : en
Publisher:
Release Date : 2011
Teaching The Solow Through The Building Of Economic Growth Scenarios written by Adrián de León Arias and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with categories.
In this article, I present a pedagogical strategy for teaching the Solow's economic growth model in a more “learnable” way. In particular, I develop a learning strategy through the building of economic growth scenarios by “running” widely available economic information in a pre-formatted Excel spreadsheet. This strategy recovers previous pedagogical devices in teaching the Solow's model and follows seminal approach developed by Denison (1962). This exercise is planned to be useful for intermediate or MBA macroeconomics students. In this presentation, I apply this procedure for the China's economy.
Modeling Economic Growth In Contemporary Indonesia
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Author : Bruno S. Sergi
language : en
Publisher: Emerald Group Publishing
Release Date : 2022-05-26
Modeling Economic Growth In Contemporary Indonesia written by Bruno S. Sergi and has been published by Emerald Group Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-05-26 with Business & Economics categories.
Modeling Economic Growth in Contemporary Indonesia explores Indonesia's most recent business and economic developments with chapters covering topics such as SMEs, public companies, stock markets, government, or non-profit organizations to explain the economic growth and relevant factors.
