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The AK model, which is the simplest endogenous model, gives a constant-savings rate of endogenous growth and assumes a constant, exogenous, saving rate. It models technological progress with a single parameter (usually A).
The AK model of economic growth is an endogenous growth model used in the theory of economic growth, a subfield of modern macroeconomics.In the 1980s it became progressively clearer that the standard neoclassical exogenous growth models were theoretically unsatisfactory as tools to explore long run growth, as these models predicted economies without technological change and thus they would ...
The Uzawa–Lucas model is an economic model that explains long-term economic growth as consequence of human capital accumulation. Developed by Robert Lucas, Jr., [1] building upon initial contributions by Hirofumi Uzawa, [2] it extends the AK model by a two-sector setup, in which physical and human capital are produced by different technologies.
The Ramsey–Cass–Koopmans model, or Ramsey growth model, is a neoclassical model of economic growth based primarily on the work of Frank P. Ramsey in 1928, [1] with significant extensions by David Cass and Tjalling Koopmans in 1965.
Growth model can refer to: Population dynamics in demography; Economic growth; Solow–Swan model in macroeconomics; Fei-Ranis model of economic growth; Endogenous growth theory; Kaldor's growth model; Harrod-Domar model; W.A Lewis growth model; Rostow's stages of growth
It combines aspects of the Harrod–Domar growth model with the Phillips curve to generate endogenous cycles in economic activity (output, unemployment and wages) unlike most modern macroeconomic models in which movements in economic aggregates are driven by exogenously assumed shocks. Since Goodwin's publication in 1967, the model has been ...
Download as PDF; Printable version; ... Exogenous and endogenous variables; F. Fei–Ranis model of economic growth;
The Jones model (also known as the semi-endogenous growth model) is a growth model developed in 1995 by economist Charles I. Jones.. The model builds on the Romer model (1990), and in particular it generalizes or modifies the description of how new technologies, ideas, or design instructions arise by taking into account the criticism of the Romer model that the long-term growth rate depends ...