Description: Economic Growth: A Unified ApproachOlivier de la Grandville Cambridge University Press Paperback Unused and unread, minor cosmetic imperfections such as scuffing or minor creasing. Stamped 'damaged' by publisher to a non-text page. EAN: 9781107535602 Published 01/12/2016 Language: English In the second edition of this user-friendly book, Olivier de La Grandville provides a clear and original introduction to the theory of economic growth, its mechanisms and its challenges. The book has been fully updated to incorporate several important new results and proofs since the first edition. In addition to a progressive treatment of dynamic optimization, readers will find intuitive derivations of all central equations of the calculus of variations and of optimal control theory. It offers a new solution to the fundamental question: How much should a nation save and invest? La Grandville shows that the optimal savings rule he suggests not only corresponds to the maximization of future welfare flows for society, but also maximizes the value of society's activity, as well as the total remuneration of labour. The rule offers a fresh alternative to dire current predictions about an ever-increasing capital–output ratio and a decrease of the labour share in national income. Foreword Robert M. Solow Preface Introduction Part I. Positive Growth Theory 1. The welfare of society and economic growth 2. The growth process an intuitive approach 3. A production function of central importance 4. Poverty traps 5. The CES production function as a general mean in collaboration with Robert M. Solow 6. Why has the elasticity of substitution most often been observed as smaller than 1? And why is it of importance? 7. Capital–labour substitution and economic growth in collaboration with Robert M. Solow 8. The long-term growth rate as a random variable, with an application to the US economy Part II. Optimal Growth Theory 9. Optimal growth theory an introduction to the calculus of variations 10. Deriving the central equations of the calculus of variations at a single stroke of the pen 11. Other major tools for optimal growth theory the Pontryagin maximum principle and the Dorfmanian 12. First applications to optimal growth 13. Optimal growth and the optimal savings rate Part III. A Unified Approach 14. Preliminaries interest rates and capital valuation 15. From arbitrage to equilibrium 16. Why is traditional optimal growth theory mute? Restoring its rightful voice 17. Problems in growth common traits between planned economies and poor countries 18. From Ibn Khaldun to Adam Smith, and a proof of Smith's conjecture 19. Capital and economic growth in the coming centuries In conclusion on the convergence of ideas and values through civilizations Further reading, data on growth and references Index. DispatchIn stock here - same-day dispatch from England. My SKU: 3251554RefundsNo-hassle refunds are always available if your book is not as expected.Terms and Conditions of SaleSorry - no collections. All sales are subject to extended Terms and Conditions of Sale as well as the Return Policy and Payment Instructions. Visit my eBay Store for details andmany more books. Template layout and design, "JNC Academic Books", "needbooks", Copyright © JNC INC. Designated trademarks, layouts and brands are the property of their respective owners. All Rights Reserved.
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Title: Economic Growth: A Unified Approach
ISBN: 1107535603
Pages: 452
Number of Pages: 448 Pages
Language: English
Publication Name: Economic Growth: a Unified Approach
Publisher: Cambridge University Press
Publication Year: 2016
Subject: Economics
Item Height: 248 mm
Item Weight: 900 g
Type: Textbook
Author: Olivier De La Grandville
Item Width: 173 mm
Format: Paperback
