Band 464
The Impact of Science on Economic Growth and its Cycles The Mathematical Dynamics Determined by the Basic Maroeconomic Facts
Aus der Reihe
Lecture Notes in Economics and Mathematical Systems
-
- Englisch ausgewählt
Fr. 72.90
inkl. gesetzl. MwSt.,
Beschreibung
Produktdetails
Einband
Taschenbuch
Erscheinungsdatum
17.09.1998
Verlag
Springer BerlinSeitenzahl
204
Maße (L/B/H)
23.5/15.5/1.2 cm
Gewicht
341 g
Auflage
Softcover reprint of the original 1st ed. 1998
Sprache
Englisch
ISBN
978-3-540-64727-0
The author shows that the enormous gap between theory and facts in modern macroeconomics can only be eliminated by nonlinear macroeconomic dynamics with the following special characteristics: First of all, only certain group-theoretical invariants generate the correct growth cycles with irregularly varying lengths, not any stochastic process as usually applied for this purpose. Furthermore, a special extended value function and generalized human capital are needed for a correct representation of scientific and technological innovation. Finally, the correct nonlinear macroeconomic dynamics are not reducible to microeconomics, for both of the above mentioned reasons.
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