中级宏观经济管理学及财务知识分析规划.pptVIP

Chapter 6 Economic Growth: Malthus and Solow The Malthusian Model of Economic Growth Malthus argued: advances in the technology for producing food increased population growth no increase in the standard of living unless there were some limits on population growth A dynamic model with many periods Confine attention to what happens in the current period and the future period Suppose population growth depends on the quantity of consumption per worker (2) where is the population in the future (next) period is an increasing function is aggregate consumption so that is current consumption per worker , mainly due to the fact that higher food consumption per worker reduces death rates through better nutrition Population growth depends on consumption per worker in the Malthusian model is the steady state for the population If then population increases If then population decreases Steady State Analysis of the Malthusian Model Recall Letting , and Then from Equation (2): In the steady state, so then can be determined The Steady State Effects of an Increase in z Suppose the economy is initially in a steady state, with , which then increases once and for all time to unchanged falls Steady state population increases How Useful is the Malthusian Model of Economic Growth? Before the Industrial Revolution in about 1800: economic growth consistent with the Malthusian Model From the perspective of the early 21st century: Malthus was wrong Why? - Did not allow for the effect of increases in the capit