Solow growth model

From CNM Wiki
Revision as of 19:22, 2 July 2020 by Kainat9 (talk | contribs) (Created page with "Solow growth model is a model showing how saving, population growth, and technological progress determine the level of and growth in the standard of living. ==Definition=...")
(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)
Jump to: navigation, search

Solow growth model is a model showing how saving, population growth, and technological progress determine the level of and growth in the standard of living.

Definition

According to Macroeconomics by Mankiw (7th edition),

Solow growth model. A model showing how saving, population growth, and technological progress determine the level of and growth in the standard of living.