# Difference between revisions of "Romer model"

From Devec

(→Mathematical formalism) |
|||

Line 3: | Line 3: | ||

==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):