Harrod–Domar model - Revision history

Issa Rice: /* Continuous */

2017-09-16T05:02:46Z

Continuous

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	===Continuous===		===Continuous===

			:<math>\dot Y / Y = \dot K / K = (sY - \delta K) / K = sY/K - \delta = sc - \delta</math>

	==History==		==History==

2017-09-16T04:57:42Z

Mathematical formalism

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	==Mathematical formalism==		==Mathematical formalism==

			===Discrete===

			:<math>\frac{\Delta Y}Y = \frac{c \Delta K}Y = \frac{c (sY - \delta K)} Y = sc - \delta \frac KYc = sc - \delta</math>

			===Continuous===

	==History==		==History==

2017-09-16T04:30:49Z

Variables in the model

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	\|-		\|-
	\| Physical capital (capital stock) \|\| ''K'' \|\| \|\| Yes \|\| Endogenous \|\| Physical capital includes things like machines, computers, buildings, etc.		\| Physical capital (capital stock) \|\| ''K'' \|\| \|\| Yes \|\| Endogenous \|\| Physical capital includes things like machines, computers, buildings, etc.
	\|-
	~~\| Labor \|\| ''L'' \|\| \|\| Yes \|\| Exogenous \|\|~~
	\|-
	~~\| Technology (knowledge) \|\| ''A'', ''T'' \|\| \|\| No \|\| Exogenous \|\|~~
	\|-		\|-
	\| Consumption \|\| ''C'' \|\| \|\|		\| Consumption \|\| ''C'' \|\| \|\|
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	\|-		\|-
	\| Growth of ''X'' \|\| <math>g_X = \dot{X}/X = \frac{\frac{\partial X}{\partial t}}{X}</math> \|\| <math>\text{Time}^{-1}</math> \|\| \|\|		\| Growth of ''X'' \|\| <math>g_X = \dot{X}/X = \frac{\frac{\partial X}{\partial t}}{X}</math> \|\| <math>\text{Time}^{-1}</math> \|\| \|\|
	\|-
	~~\| Population growth \|\| <math>n = \dot L / L</math> \|\| <math>\text{Time}^{-1}</math> \|\| \|\|~~
	\|-		\|-
	\| Depreciation (rate?) \|\| ''δ'', ''d'', ''D'' \|\| Unitless \|\|		\| Depreciation (rate?) \|\| ''δ'', ''d'', ''D'' \|\| Unitless \|\|
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	\|-		\|-
	\| Fraction saved \|\| ''s'' \|\| Unitless \|\|		\| Fraction saved \|\| ''s'' \|\| Unitless \|\|
	\|-
	~~\| Output per worker \|\| ''y'' = ''Y''/''L'' \|\| \|\| \|\| Endogenous \|\|~~
	\|-		\|-
	\| Time \|\| ''t'' \|\| Time, e.g. years \|\|		\| Time \|\| ''t'' \|\| Time, e.g. years \|\|
	\|-		\|-
	\| Production function \|\| ''F'' \|\| \|\| \|\|		\| Production function \|\| ''F'' \|\| \|\| \|\|
	\|-
	~~\| Elasticity of output with respect to capital \|\| ''α'' \|\| Unitless \|\|~~
	\|}		\|}

2017-09-16T04:28:45Z

Variables in the model

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	==Variables in the model==		==Variables in the model==

			{\| class="sortable wikitable"
			! Name !! Variable !! Unit !! Rival input? !! Variable type !! Notes
			\|-
			\| Output \|\| ''Y'' \|\| Units of GDP (dollar?) \|\| – \|\| Endogenous \|\|
			\|-
			\| Physical capital (capital stock) \|\| ''K'' \|\| \|\| Yes \|\| Endogenous \|\| Physical capital includes things like machines, computers, buildings, etc.
			\|-
			\| Labor \|\| ''L'' \|\| \|\| Yes \|\| Exogenous \|\|
			\|-
			\| Technology (knowledge) \|\| ''A'', ''T'' \|\| \|\| No \|\| Exogenous \|\|
			\|-
			\| Consumption \|\| ''C'' \|\| \|\|
			\|-
			\| Investment \|\| ''I'' \|\| \|\|
			\|-
			\| Amount saved \|\| ''S'' \|\| \|\|
			\|-
			\| Growth of ''X'' \|\| <math>g_X = \dot{X}/X = \frac{\frac{\partial X}{\partial t}}{X}</math> \|\| <math>\text{Time}^{-1}</math> \|\| \|\|
			\|-
			\| Population growth \|\| <math>n = \dot L / L</math> \|\| <math>\text{Time}^{-1}</math> \|\| \|\|
			\|-
			\| Depreciation (rate?) \|\| ''δ'', ''d'', ''D'' \|\| Unitless \|\|
			\|-
			\| Capital per worker \|\| ''k'' = ''K''/''L'' \|\| \|\| \|\| Endogenous \|\|
			\|-
			\| Fraction saved \|\| ''s'' \|\| Unitless \|\|
			\|-
			\| Output per worker \|\| ''y'' = ''Y''/''L'' \|\| \|\| \|\| Endogenous \|\|
			\|-
			\| Time \|\| ''t'' \|\| Time, e.g. years \|\|
			\|-
			\| Production function \|\| ''F'' \|\| \|\| \|\|
			\|-
			\| Elasticity of output with respect to capital \|\| ''α'' \|\| Unitless \|\|
			\|}

	==Mathematical formalism==		==Mathematical formalism==

2017-09-16T04:28:26Z

← Older revision		Revision as of 04:28, 16 September 2017
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	The Harrod–Domar model is a [[long-run economic growth model]].		The Harrod–Domar model is a [[long-run economic growth model]].

			==Model assumptions==

	==Variables in the model==		==Variables in the model==

			==Mathematical formalism==

			==History==

	==Commentary==		==Commentary==

2017-09-16T03:53:27Z

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	==Variables in the model==		==Variables in the model==

			==Commentary==

			Easterly in ''[[wikipedia:The Elusive Quest for Growth\|The Elusive Quest for Growth]]'' criticizes this model.

	==See also==		==See also==

2017-09-15T19:02:37Z

External links

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	==External links==		==External links==

			* [[wikipedia:Harrod–Domar model\|Harrod–Domar model]] (Wikipedia)

	==References==		==References==

2017-09-15T18:53:22Z

← Older revision		Revision as of 18:53, 15 September 2017
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	The Harrod–Domar model is a [[long-run economic growth model]].		The Harrod–Domar model is a [[long-run economic growth model]].

			==Variables in the model==

	==See also==		==See also==

2017-09-15T18:51:56Z

Created page with "The Harrod–Domar model is a long-run economic growth model. ==See also== ==External links== ==References=="

New page

The Harrod–Domar model is a [[long-run economic growth model]].

==See also==

==External links==

==References==