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Non-linear Dynamics in the Infinite Time Horizon Model

In: Nonlinear Dynamics in Equilibrium Models

Author

Listed:
  • Kazuo Nishimura

    (Kyoto University)

  • Gerhard Sorger

    (University of Vienna)

Abstract

There are two important reasons why economic growth theory became (again) a popular field during the last 15 years. The first one is that recently developed growth theoretic models capture more aspects of economic growth than the models used in the fifties and sixties. Nowadays, models of economic growth try to explain technological progress and innovations, whereas the purpose of traditional models was mainly to describe the process of capital accumulation.

Suggested Citation

  • Kazuo Nishimura & Gerhard Sorger, 2012. "Non-linear Dynamics in the Infinite Time Horizon Model," Springer Books, in: John Stachurski & Alain Venditti & Makoto Yano (ed.), Nonlinear Dynamics in Equilibrium Models, edition 127, chapter 0, pages 13-47, Springer.
  • Handle: RePEc:spr:sprchp:978-3-642-22397-6_2
    DOI: 10.1007/978-3-642-22397-6_2
    as

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