IDEAS home Printed from https://ideas.repec.org/h/spr/lnechp/978-3-031-09600-6_3.html
   My bibliography  Save this book chapter

Economic Growth Models

In: Intertemporal and Strategic Modelling in Economics

Author

Listed:
  • Orlando Gomes

    (Lisbon Polytechnic Institute (ISCAL—IPL) and CEFAGE research center (Évora University—ISCAL))

Abstract

The dynamic approach to decision-making is particularly well-suited to address economic growth. Typically, in optimal growth models a social planner merges the behavior of two other agents acting in a decentralized economy: the household, who maximizes intertemporal consumption utility (as approached in Chap. 1 ); and the firm, which solves a straightforward profit maximization problem. The first step in this chapter is the characterization of the behavior of the representative firm. Once this is done, growth is analyzed, first assuming exogenous savings and, in a second step, fully integrating the intertemporal choice of the household into the model. A few other features are explored later in the chapter, namely the dynamics of investment and a specific class of growth models known as models of overlapping generations.

Suggested Citation

  • Orlando Gomes, 2022. "Economic Growth Models," Lecture Notes in Economics and Mathematical Systems, in: Intertemporal and Strategic Modelling in Economics, chapter 0, pages 53-82, Springer.
    • Handle: RePEc:spr:lnechp:978-3-031-09600-6_3
    DOI: 10.1007/978-3-031-09600-6_3
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:lnechp:978-3-031-09600-6_3. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.