Solow residual — The Solow residual is a number describing empirical productivity growth in an economy from year to year and decade to decade. Robert Solow defined rising productivity as rising output with constant capital and labor input. It is a residual… … Wikipedia
Solow, Robert M. — ▪ American economist in full Robert Merton Solow born August 23, 1924, Brooklyn, New York, U.S. American economist who was awarded the 1987 Nobel Prize for Economics for his important contributions to theories of economic growth.… … Universalium
Exogenous growth model — The Exogenous growth model, also known as the Neo classical growth model or Solow growth model is a term used to sum up the contributions of various authors to a model of long run economic growth within the framework of neoclassical… … Wikipedia
Neoclassical growth model — See also: Ramsey growth model The neoclassical growth model, also known as the Solow–Swan growth model or exogenous growth model, is a class of economic models of long run economic growth set within the framework of neoclassical economics.… … Wikipedia
Economic growth — GDP real growth rates, 1990–1998 and 1990–2006, in selected countries … Wikipedia
Productivity paradox — The productivity paradox (also known as the Solow paradox or sometimes the Solow computer paradox) is the theory that computers have contributed negligibly to productivity, and is often summarized with Robert Solow s 1987 quip, You can see the… … Wikipedia
Growth accounting — is a set of theories used in economics to explain and model short run economic growth.The total national income in an economy may be modeled as being explained by various factors. A basic function of these factors is known as the production… … Wikipedia
Factors of production — In economics, factors of production means inputs and finished goods means output. Input determines the quantity of output i.e. output depends upon input. Input is the starting point and output is the end point of production process and such input … Wikipedia
Total factor productivity — (TFP) addresses any effects in total output not caused by inputs or economies of scale. For example, a year with unusually good weather will tend to have higher output, because bad weather hinders agricultural output. A variable like weather does … Wikipedia
Multifactor productivity — (MFP) measures the changes in output per unit of combined inputs. In the United States, Indices of MFP are produced for the private business, private nonfarm business, and manufacturing sectors of the economy. MFP is also developed for 2 and 3… … Wikipedia
