Testing Unified Growth Theory
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Testing Unified Growth Theory
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Author : Jakob Brøchner Madsen
language : en
Publisher:
Release Date : 2020
Testing Unified Growth Theory written by Jakob Brøchner Madsen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with categories.
A core mechanism of unified growth theory is that accelerating technologicalprogress induces mass education and, in interaction with child quantity-quality substitution, a decline in fertility. Using unique new data for 21 OECD countries over theperiod 1750-2000, we test, for the first time, the validity of this core mechanism of unified growth theory. We measure a country's technological progress as patents per capita, genetic-distance weighted foreign patents, and investment in machinery, equipment and intellectual property products. Controlling for other confounders like income, mortality, thegender wage gap, indicators for child labor, compulsory schooling, and time- and country-fixed effects, we establish a strong positive impact of technological progress on investmentsin education and a strongly negative one on fertility. Using two-stage regressions, we assess the child quantity-quality substitution that can be motivated by technological change. We estimate that a 10 percent increase of enrollment in primary and secondary school isassociated with a decline of the general fertility rate by 3 to 4 percent.
Unified Growth Theory
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Author : Oded Galor
language : en
Publisher: Princeton University Press
Release Date : 2011-04-11
Unified Growth Theory written by Oded Galor and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-04-11 with Business & Economics categories.
For most of the vast span of human history, economic growth was all but nonexistent. Then, about two centuries ago, some nations began to emerge from this epoch of economic stagnation, experiencing sustained economic growth that led to significant increases in standards of living and profoundly altered the level and distribution of wealth, population, education, and health across the globe. The question ever since has been--why? This is the first book to put forward a unified theory of economic growth that accounts for the entire growth process, from the dawn of civilization to today. Oded Galor, who founded the field of unified growth theory, identifies the historical and prehistorical forces behind the differential transition timing from stagnation to growth and the emergence of income disparity around the world. Galor shows how the interaction between technological progress and population ultimately raised the importance of education in coping with the rapidly changing technological environment, brought about significant reduction in fertility rates, and enabled some economies to devote greater resources toward a steady increase in per capita income, paving the way for sustained economic growth. Presents a unified theory of economic growth from the dawn of civilization to today Explains the worldwide disparities in living standards and population we see today Provides a comprehensive overview of the three phases of the development process Analyzes the Malthusian theory and its empirical support Examines theories of demographic transition and their empirical significance Explores the interaction between economic development and human evolution
Testing The Neoclassical Theory Of Economic Growth
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Author : Delano Villanueva
language : en
Publisher: International Monetary Fund
Release Date : 1992-12-01
Testing The Neoclassical Theory Of Economic Growth written by Delano Villanueva and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992-12-01 with Business & Economics categories.
Several recent empirical studies have examined determinants of economic growth using country average (cross-section) data. In contrast, this paper employs a technique for using a panel of both cross-section and time-series data for 98 industrial and developing countries over 1960-85 to determine the quantitative importance for economic growth of both country-specific and time-varying factors such as human capital, public investment, and outward-oriented trade policies. The empirical results provide support for the view that these factors exert a positive and significant influence on economic growth. They also provide estimates of the speed at which the gap in real per capita income between rich and poor countries is likely to be reduced over the longer term.
Modern Growth Theory
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Author : Dipankar Dasgupta
language : en
Publisher: Oxford University Press
Release Date : 2010-10-18
Modern Growth Theory written by Dipankar Dasgupta and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-10-18 with Business & Economics categories.
This book deals with Growth Theory, an important subject taught as a part of economic theory. Amongst other topics, it introduces the literature on growth and inequality as well as a major critique of growth economics by Charles Jones. These issues remained unaddressed in an earlier volume by the author, Growth Theory: Solow and His Modern Exponents (OUP 2005). Developed on the earlier work, the present volume focuses on: long run growth growth and infrastructure taxation policies for growth human capital formation a unified theoretical framework to help students travel from the world of old growth theory to modern growth theory intuitive as well as rigorous development of optimal control theory using undergraduate mathematical tools analysis of India's long term growth experience. For an interactive platform on updates and queries on the book and clarifications by the author, please visit the Discussion Forum: Modern Growth Theory, OUP, 2010 at this URL http:--economicsteaching.wordpress.com-2010-10-28-modern-growth-theory-
Demography And The Economy
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Author : John B. Shoven
language : en
Publisher: University of Chicago Press
Release Date : 2011-01-15
Demography And The Economy written by John B. Shoven and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-01-15 with Business & Economics categories.
Demographics is a vital field of study for understanding social and economic change and it has attracted attention in recent years as concerns have grown over the aging populations of developed nations. Demographic studies help make sense of key aspects of the economy, offering insight into trends in fertility, mortality, immigration, and labor force participation, as well as age, gender, and race specific trends in health and disability. Demography and the Economy explores the connections between demography and economics, paying special attention to what demographic trends can reveal about the sustainability of traditional social security programs and the larger implications for economic growth. The volume brings together some of the leading scholars working at the border between the two disciplines, and it provides an eclectic overview of both fields. Contributors also offer deeper analysis of a variety of issues such as the impact of greater wealth on choices about marriage and childbearing and the effects of aging populations on housing prices, Social Security, and Medicare.
The Simplest Unified Growth Theory
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Author :
language : en
Publisher:
Release Date : 2007
The Simplest Unified Growth Theory written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with categories.
This paper provides a uni?ed growth theory, i.e. a model that explains the very long-run economic and demographic development path of industrialized economies, stretching from the pre-industrial era to present-day and beyond. Making strict use of Malthus & rsquo; (1798) so-called preventive check hypothesis that fertility rates vary inversely with the price of food the current study o?ers a new and straightforward explanation for the demographic transition and the break with the Malthusian era. The current framework lends support to existing uni?ed growth theories and is well in tune with historical evidence about structural transformation. -- Economic Growth ; Population Growth ; Structural Change ; Industrial Revolution
Test Theory
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Author : Roderick P. McDonald
language : en
Publisher: Psychology Press
Release Date : 2013-06-17
Test Theory written by Roderick P. McDonald and has been published by Psychology Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-06-17 with Psychology categories.
This book introduces the reader to the main quantitative concepts, methods, and computational techniques needed for the development, evaluation, and application of tests in the behavioral/social sciences, including educational tests. Two empirical examples are carried throughout to illustrate alternative methods. Other data sets are used for special illustrations. Self-contained programs for confirmatory and exploratory factor analysis are available on the Web. Intended for students of psychology, particularly educational psychology, as well as social science students interested in how tests are constructed and used, prerequisites include a course on statistics. The programs and data files for this book can be downloaded from www.psypress.com/test-theory/
The Demographic Transition In A Unified Growth Model Of The English Economy
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Author : James S. Foreman-Peck
language : en
Publisher:
Release Date : 2019
The Demographic Transition In A Unified Growth Model Of The English Economy written by James S. Foreman-Peck and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
A dynamic stochastic unified growth model is estimated from English economy data for almost a millennium. At the core of the (seven) overlapping generations, rational expectations structure is household choice about target number and quality of children. The trends of births, deaths, population and, the real wage, are closely matched by the estimated model. In the 19th century English fertility transition, the model shows how the generalized child price relative to the child quality price rose. The rising opportunity cost of education was as decisive for the transition as the parental shift to child quality.
The Forces Of Economic Growth
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Author : Alfred Greiner
language : en
Publisher: Princeton University Press
Release Date : 2016-06-28
The Forces Of Economic Growth written by Alfred Greiner and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-06-28 with Business & Economics categories.
In economics, the emergence of New Growth Theory in recent decades has directed attention to an old and important problem: what are the forces of economic growth and how can public policy enhance them? This book examines major forces of growth--including spillover effects and externalities, education and formation of human capital, knowledge creation through deliberate research efforts, and public infrastructure investment. Unique in emphasizing the importance of different forces for particular stages of development, it offers wide-ranging policy implications in the process. The authors critically examine recently developed endogenous growth models, study the dynamic implications of modified models, and test the models empirically with modern time series methods that avoid the perils of heterogeneity in cross-country studies. Their empirical analyses, undertaken with newly constructed time series data for the United States and some core countries of the Euro zone, show that models containing scale effects, such as the R&D model and the human capital model, are compatible with time series evidence only after considerable modifications and nonlinearities are introduced. They also explore the relationship between growth and inequality, with particular focus on technological change and income disparity. The Forces of Economic Growth represents a comprehensive and up-to-date empirical time series perspective on the New Growth Theory.
Multiple Growth Regimes Insights From Unified Growth Theory
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Author : Oded Galor
language : en
Publisher:
Release Date : 2007
Multiple Growth Regimes Insights From Unified Growth Theory written by Oded Galor and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with categories.