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Free delivery for orders over 69.99 euro

Efficient Economic Growth

Name: Efficient Economic Growth
Brand: Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
SKU: 02004869
Price: 48.6 EUR
Availability: InStock
Author: Stefan Homburg
ISBN: 9783642634789

Stefan Homburg

Language

English

Book Paperback

Libristo code: 02004869

Publishers Springer-Verlag Berlin and Heidelberg GmbH & Co. KG, September 2012

The book is about the well-known problem that a perfectly§competitive economy, even if endowed with... Full description

Libristo code: 02004869

118 b

48.60 €

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The book is about the well-known problem that a perfectly§competitive economy, even if endowed with perfect foresight,§can grow in an efficient manner. The causes of this strange§inefficiency are analyzed, and sufficientconditions for§efficient economic growth are discussed. The most important§contribution is the elaboration of a rather well-known, yet§unproved, hypothesis which says that the existence of a§nonproducible productive asset, like land, prevents dynamic§inefficiency. This is shown to hold outside steady state§growth paths. Applications of the theoretical concepts and§results are straightforward and are discussed in detail. The§applications include the efficient use of exhaustible§resources over time, the possibility of "bubbles" in§financial markets, the theory of interest rates, and§questions concerning optimal social security.