HARROD 1939

• 成果类型: Article
• 署名作者: Blume, Lawrence E.; Sargent, Thomas J.
• 署名单位: Cornell University; The Santa Fe Institute; New York University
• 刊物名称: ECONOMIC JOURNAL
• ISSN/ISSBN: 0013-0133
• DOI: 10.1111/ecoj.12224
• 发表日期: 2015
• 页码: 350-357
• 关键词: adjustment costs; INVESTMENT; equilibrium; models

摘要

Harrod's 1939 Essay in Dynamic Theory' is celebrated as one of the foundational papers in the modern theory of economic growth. Linked eternally to Evsey Domar, he appears in the undergraduate and graduate macroeconomics curricula, and his fundamental equation' appears as the central result of the AK model in modern textbooks. Reading his Essay today, however, the reasons for his centrality are less clear. Looking forward from 1939, we see that the main stream of economic growth theory is built on neoclassical distribution theory rather than on the Keynesian principles Harrod deployed. Looking back, we see that there were many antecedent developments in growth economics, some much closer than Harrod's to contemporary developments. So what, then, did Harrod accomplish? Harrod, R.F. (1939). An essay in dynamic theory', Economic Journal, vol. 49(193), pp. 14-33.