Monday, February 13, 2012

Bubblicious!



Three Views of the State of the Economy by Stephen Williamson

The neoclassical growth model,
also known as the Solow–Swan growth model or exogenous growth model, is a class of economic models of long-run economic growth set within the framework of neoclassical economics. Neoclassical growth models attempt to explain long run economic growth by looking at productivity, capital accumulation, population growth and technological progress.
As Duy writes, "The backbone of the CBO's estimates is a Solow Growth model".

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