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The Logarithm Model of Development Power: A Tool to Analyze the Motivity of Economic Growth

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Author Info

  • Feng Dai

    (Zhengzhou Information Engineering University)

  • Hui Liu

    (Zhengzhou Information Engineering University)

  • Zifu Qin

    (Zhengzhou Information Engineering University)

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Abstract

After the discussions to exponential and power model [F. Dai, 2005], this paper points out there are three kinds of basic modes in the macroeconomic process, i.e., the exponential, power and logarithm mode, and discusses the logarithm model of Development Power (DP). By the analysis on logarithm model of DP, we will see the reasons, of which there are anomaly cycles in economic process, are just the alternate motion of DP accumulating and releasing. And that is also the reasons that there are the economic fluctuations in production markets. The logarithm model of DP can also describe the different characters of DP motion at the different stage, and indicates in analytic way that the diffusion of DP and the diversifications of economic productivity also might occur after an economic recession. The empirical researches are done about the conclusions in this paper, and the results express that the logarithm model is better than the power model and exponential model of DP in many cases. These three models of DP can not be replaced one another.

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File URL: http://128.118.178.162/eps/mac/papers/0505/0505022.pdf
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Bibliographic Info

Paper provided by EconWPA in its series Macroeconomics with number 0505022.

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Length: 16 pages
Date of creation: 24 May 2005
Date of revision:
Handle: RePEc:wpa:wuwpma:0505022

Note: Type of Document - pdf; pages: 16. This is the sixth of working papers for researches about Development Power (DP)
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Web page: http://128.118.178.162

Related research

Keywords: Development Power (DP); Partial Distribution; logarithm model; macroeconomic analysis;

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References

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  1. Paul M Romer, 1999. "Increasing Returns and Long-Run Growth," Levine's Working Paper Archive 2232, David K. Levine.
  2. Feng Dai, 2004. "Development Power and Derivative Process-A Model and Theory for Macroeconomy Analysis," Macroeconomics 0405013, EconWPA.
  3. Long, John B, Jr & Plosser, Charles I, 1983. "Real Business Cycles," Journal of Political Economy, University of Chicago Press, vol. 91(1), pages 39-69, February.
  4. Kydland, Finn E & Prescott, Edward C, 1982. "Time to Build and Aggregate Fluctuations," Econometrica, Econometric Society, vol. 50(6), pages 1345-70, November.
  5. Lucas, Robert Jr, 1976. "Econometric policy evaluation: A critique," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 1(1), pages 19-46, January.
  6. Kahneman, Daniel & Knetsch, Jack L & Thaler, Richard H, 1986. "Fairness and the Assumptions of Economics," The Journal of Business, University of Chicago Press, vol. 59(4), pages S285-300, October.
  7. Romer, Paul M, 1986. "Cake Eating, Chattering, and Jumps: Existence Results for Variational Problems," Econometrica, Econometric Society, vol. 54(4), pages 897-908, July.
  8. Feng Dai & Bao- hua Sun & Jie Sun, 2004. "Derivative Process Model of Development Power in Industry: Empirical Research and Forecast for Chinese Software Industry and US Economy," Macroeconomics 0405024, EconWPA.
  9. Feng Dai & Ying Wang & Zifu Qin, 2005. "Development Power and Its Power Model: The Analytic Approach for Continuous Motivity of Economic Growth," Macroeconomics 0505016, EconWPA.
  10. Plosser, C.I., 1989. "Understanding Real Business Cycles," RCER Working Papers 198, University of Rochester - Center for Economic Research (RCER).
  11. Tversky, Amos & Kahneman, Daniel, 1986. "Rational Choice and the Framing of Decisions," The Journal of Business, University of Chicago Press, vol. 59(4), pages S251-78, October.
  12. Paul M Romer, 1999. "Endogenous Technological Change," Levine's Working Paper Archive 2135, David K. Levine.
  13. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
  14. Kahneman, Daniel & Tversky, Amos, 1979. "Prospect Theory: An Analysis of Decision under Risk," Econometrica, Econometric Society, vol. 47(2), pages 263-91, March.
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