Romer model: Difference between revisions
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==Mathematical formalism== | ==Mathematical formalism== | ||
In addition to the equations for the Solow–Swan model, there is an equation describing the discovery of new ideas: | In addition to the equations for the Solow–Swan model, there is an equation describing the discovery of new ideas (Jones & Vollrath, p100): | ||
:<math>\dot A = \bar \theta L_A</math> | :<math>\dot A = \bar \theta L_A</math> | ||
Revision as of 20:52, 16 September 2017
The Romer model is a long-run economic growth model.
Mathematical formalism
In addition to the equations for the Solow–Swan model, there is an equation describing the discovery of new ideas (Jones & Vollrath, p100):
