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How long is Simon’s long run? : a first approach

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  • Garces Voisenat, Juan Pedro

Abstract

Julian Simon has stated, in many of his recent publications, that population growth, although reducing income per capita in the short run through capital dilution, increases the rate of growth of that same income per capita in the long run (steady state) through technical progress brought about by the increased rates of invention and innovation caused by a bigger population. This paper intends to measure empirically the length of time needed to achieve that steady state, through the experience of three industrialised countries, by means of a time-series analysis based on the models presented by Simon in his most recent work (1986).

Suggested Citation

  • Garces Voisenat, Juan Pedro, 1987. "How long is Simon’s long run? : a first approach," MPRA Paper 17416, University Library of Munich, Germany, revised 2007.
    • Handle: RePEc:pra:mprapa:17416
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    References listed on IDEAS

    as
    1. E. S. Phelps, 1966. "Models of Technical Progress and the Golden Rule of Research," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 33(2), pages 133-145.
    2. World Bank, 1984. "World Development Report 1984," World Bank Publications - Books, The World Bank Group, number 5967, April.
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    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

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