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Some Macroeconomics for the 21st Century

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Author Info
Robert E. Lucas Jr.

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Abstract

This note describes a numerical simulation of a model of economic growth, a simplified version of Robert Tamura's (1996) model of world income dynamics, based on technology diffusion. The model makes predictions for trends in average world income growth and about the evolution of the relative income distribution that accord well with observation. The model is used to forecast the course of world income growth and income inequality over the century to come.

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Publisher Info
Article provided by American Economic Association in its journal Journal of Economic Perspectives.

Volume (Year): 14 (2000)
Issue (Month): 1 (Winter)
Pages: 159-168
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Handle: RePEc:aea:jecper:v:14:y:2000:i:1:p:159-168

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Tamura, Robert, 1996. "From decay to growth: A demographic transition to economic growth," Journal of Economic Dynamics and Control, Elsevier, vol. 20(6-7), pages 1237-1261. [Downloadable!] (restricted)
  2. Quah, Danny, 1997. "Empirics for Growth and Distribution: Stratification, Polarization, and Convergence Clubs," CEPR Discussion Papers 1586, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  3. V. V. Chari & Patrick J. Kehoe & Ellen R. McGrattan, 1997. "The poverty of nations: a quantitative exploration," Staff Report 204, Federal Reserve Bank of Minneapolis. [Downloadable!]
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  4. Pritchett, Lant, 1997. "Divergence, Big Time," Journal of Economic Perspectives, American Economic Association, vol. 11(3), pages 3-17, Summer. [Downloadable!] (restricted)
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  5. Quah, Danny T, 1997. " Empirics for Growth and Distribution: Stratification, Polarization, and Convergence Clubs," Journal of Economic Growth, Springer, vol. 2(1), pages 27-59, March. [Downloadable!] (restricted)
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