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Efficient Economic Growth

Language EnglishEnglish
Book Paperback
Book Efficient Economic Growth Stefan Homburg
Libristo code: 02004869
The book is about the well-known problem that a perfectly§competitive economy, even if endowed with... Full description
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The book is about the well-known problem that a perfectly§competitive economy, even if endowed with perfect foresight,§can grow in an efficient manner. The causes of this strange§inefficiency are analyzed, and sufficientconditions for§efficient economic growth are discussed. The most important§contribution is the elaboration of a rather well-known, yet§unproved, hypothesis which says that the existence of a§nonproducible productive asset, like land, prevents dynamic§inefficiency. This is shown to hold outside steady state§growth paths. Applications of the theoretical concepts and§results are straightforward and are discussed in detail. The§applications include the efficient use of exhaustible§resources over time, the possibility of "bubbles" in§financial markets, the theory of interest rates, and§questions concerning optimal social security.

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About the book

Full name Efficient Economic Growth
Language English
Binding Book - Paperback
Date of issue 2012
Number of pages 107
EAN 9783642634789
ISBN 3642634788
Libristo code 02004869
Weight 195
Dimensions 155 x 235 x 7
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