The Impact of Science on Economic Growth and its Cycles : The Mathematical Dynamics Determined by the Basic Macroeconomic Facts PDF
by Arvid Aulin
Part of the Lecture Notes in Economics and Mathematical Systems series
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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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- Format:PDF
- Publisher:Springer Berlin Heidelberg
- Publication Date:06/12/2012
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- ISBN:9783642958618
Information
-
Download Now
- Format:PDF
- Publisher:Springer Berlin Heidelberg
- Publication Date:06/12/2012
- Category:
- ISBN:9783642958618
