Theoretical and Applied Economics
No. 5 / 2007 (510)
R.M. Solow Adjusted Model of Economic Growth
Stelian Stancu
Academia de Studii Economice, Bucuresti
Abstract. Besides the models of M. Keynes, R.F. Harrod, E. Domar, D. Romer, Ramsey-Cass-Koopmans etc., the R.M. Solow model is part of the category which characterizes the economic growth. The paper proposes the study of the R.M. Solow adjusted model of economic growth, while the adjustment consisting in the model adaptation to the Romanian economic characteristics. The article is the first one from a three paper series dedicated to the macroeconomic modelling theme, using the R.M. Solow model, such as: “Measurement of the economic growth and extensions of the R.M. Solow adjusted model” and “Evolution scenarios at the Romanian economy level using the R.M. Solow adjusted model”. The analysis part of the model is based on the study of the equilibrium to the continuous case with some interpretations of the discreet one, by using the state diagram. The optimization problem at the economic level is also used; it is built up of a specified number of representative consumers and firms in order to reveal the interaction between these elements.
Keywords: reprezentive consumer; reprezentive firm; macroeconomic model; macroeconomic equilibrium; state diagram; evolution scenarios.
Contents
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R.M. Solow Adjusted Model of Economic Growth
Ion Gh. Rosca
Stelian Stancu
- Multidisciplinary Optimization in Services Management
George Moldoveanu
Octavian Thor Pleter
- IAS 41 Agriculture: Fair Value Accounting
Viorel Lefter
Aureliana Geta Roman
- Structural Instruments – the New Challenge for Romania.
Investment Fields and the Beneficiaries for the Operational Programs 2007-2013
Tatiana Mosteanu
Meral Ibraim
- The Standard-cost Method: the Best Answer for the Effective Management of the Value Side of the Manufacturing Process and Raising Economic Efficiency
Cleopatra Sendroiu
Costantin Roman
- The International Trade in Global Economy
Ion Botescu
- The Stress’ Management and Time Budget
Maria Constantinescu
Cornel Constantinescu