Solow–Swan model
The Solow–Swan model or exogenous growth model is an economic model of long-run economic growth. It attempts to explain long-run economic growth by looking at capital accumulation, labor or population growth, and increases in productivity largely driven by technological progress. At its core, it is an aggregate production function, often specified to be of Cobb–Douglas type, which enables the model "to make contact with microeconomics". The model was developed independently by Robert Solow and Trevor Swan in 1956, and superseded the Keynesian Harrod–Domar model.
Solow–Swan model - Wikipedia Jump to content From Wikipedia, the free encyclopedia Model of long-run economic growth Part of a series on Macroeconomics Basic concepts Output and measurement Growth Business cycle Financial crisis Recession National accounts SNA GDP GNI NNI Output gap Unemployment Money and prices Exchange rate Inflation Cost-push Deflation Demand-pull Disinflation Price level Shrinkflation Stagflation Interest rate Liquidity trap Money Creation Demand Liquidity preference Endogenous Supply Dynamics and theory Aggregate demand Effective demand Aggregate supply Balance of payment
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