The Impact of Science on Economic Growth and its Cycles: The Mathematical Dynamics Determined by the Basic Macroeconomic Facts
Prof. Arvid Aulin (auth.)The author shows that the enormous gap between theory and facts in modern macroeconomics can only be eliminated by nonlinear macroeconomic dynamics with the following special characteristics: First of all, only certain group-theoretical invariants generate the correct growth cycles with irregularly varying lengths, not any stochastic process as usually applied for this purpose. Furthermore, a special extended value function and generalized human capital are needed for a correct representation of scientific and technological innovation. Finally, the correct nonlinear macroeconomic dynamics are not reducible to microeconomics, for both of the above mentioned reasons.
年:
1998
出版:
1
出版社:
Springer-Verlag Berlin Heidelberg
语言:
english
页:
204
ISBN 10:
3642958613
ISBN 13:
9783642958618
系列:
Lecture Notes in Economics and Mathematical Systems 464
文件:
PDF, 4.22 MB
IPFS:
,
english, 1998
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