Lecture Notes on Economic Growth (II): Five Prototype Models of Endogenous Growth

Xavier X. Sala-i-Martin

NBER Working Paper # 3564, December 1990.

Yale Economic Growth Center Discussion Paper: 622 December 1990, pp. 47.

Abstract

This paper explores the five simplest models of endogenous growth. We start with the AK model (Rebelo (1990)) and argue that all endogenous growth models can be viewed as variations or microfoundations of it. We then examine the Barro (1990) model of government spending and growth. Next we look at the Arrow-Sheshinski-Romer model of learning by doing and externalities. The Lucas (1988) model of human capital accumulation is then considered. Finally, we present a simple model of R&D and growth.

Descriptors

One, Two, and Multisector Growth Models, O410. General Aggregative Models: Neoclassical (New Classical), E130. Multisector Growth Models and Related Topics, 1113. One and Two Sector Growth Models and Related Topics, 1112. Macroeconomic Theory--General, 0230.