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Modeling the Growth of the World Economy: The Basic Overlapping Generations Model965) neoclassical growth model is used as basic overlapping generations (OLG) growth model. This is then extended across several further dimensions in the following chapters. As a simple but complete intertemporal general equilibrium model, it comprises the optimization problems of agents (younger aIndict 发表于 2025-3-22 08:03:07
Steady State, Factor Income, and Technological Progressowth factor of the (efficiency-weighted) capital intensity. Second, assuming the GDP growth is constant over time and equals the natural growth rate, sufficient conditions for the existence of a unique and globally stable steady state are presented. Third, intergenerational efficiency of the steadyfollicle 发表于 2025-3-22 10:12:07
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Involuntary Unemployment in an OLG Growth Model with Public Debt and Human Capitalee on the notion of “underemployment equilibrium” with so-called “involuntary unemployment.” While the majority of macro theorists trace involuntary unemployment back to frictions and rigidities in the adaptation of wages and product prices to market imbalances, a minority position holds that even u