Difference between revisions of "Romer model"

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(Mathematical formalism)
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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):

\dot A = \bar \theta L_A

See also

External links

References