Four stylised facts of aggregate economic growth are set up initially. The growth process is interpreted to represent transitional dynamics rather than balanced-growth equilibria. Against this background, the fundamental importance of subsistence consumption is comprehensively analysed. Subsequently, the meaning of the productive-consumption hypothesis for the intertemporal consumption trade-off and the growth process is investigated. Finally, the process of growth is analysed empirically by means of cross-sectional conditional convergence regressions with endogenous control variables.
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язык английский ● Формат PDF ● ISBN 9783642457845 ● издатель Springer Berlin Heidelberg ● опубликованный 2012 ● Загружаемые 3 раз ● валюта EUR ● Код товара 6378687 ● Защита от копирования Adobe DRM
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