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The Impact of Science on Economic Growth and Its Cycles : The Mathematical Dynamics Determined by the Basic Macroeconomic Facts. 経済成長とその循環への科学の影響
・ISBN 978-3-540-64727-0 soft EUR 49.99
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| 著者・編者 | Aulin, Arvid, |
|---|---|
| シリーズ | Lecture Notes in Economics and Mathematical Systems |
| 出版社 | (Springer, GW) |
| 出版年月 | 1998 |
| ページ数 | ix, 204 pp. |
| 言語 | ENG |
| ニュース番号 | ＜447-109＞ |
解説
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.