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Growth and International Trade

An Introduction to the Overlapping Generations Approach

  • Textbook
  • © 2021

Overview

Authors:
  1. Karl Farmer

    1. Department of Economics, University of Graz, Graz, Austria

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    You can also search for this author in PubMed   Google Scholar

  2. Matthias Schelnast

    1. Department of Economics, University of Graz, Graz, Austria

    View author publications

    You can also search for this author in PubMed   Google Scholar

  • Easy-to-follow guide for students wishing to proceed to analytically more demanding literature
  • Unified model framework throughout the book
  • Treatment of highly topical subjects in growth and international economics (e.g. euro crisis, growth with bubbles, religion and economic growth)
  • Provides a lot of empirical data on growth and international trade

Part of the book series: Springer Texts in Business and Economics (STBE)

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Table of contents (22 chapters)

  1. Front Matter

    Pages i-xxi
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  2. Growth and International Trade: Introduction and Stylized Facts

    • Karl Farmer, Matthias Schelnast
    Pages 1-27

  3. Part I

    1. Front Matter

      Pages 29-29
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    2. Modeling the Growth of the World Economy: The Basic Overlapping Generations Model

      • Karl Farmer, Matthias Schelnast
      Pages 31-55

    3. Steady State, Factor Income, and Technological Progress

      • Karl Farmer, Matthias Schelnast
      Pages 57-82

    4. Economic Growth and Public Debt in the World Economy

      • Karl Farmer, Matthias Schelnast
      Pages 83-111

    5. “New” Growth Theory and Knowledge Externalities in Capital Accumulation

      • Karl Farmer, Matthias Schelnast
      Pages 113-138

    6. Endogenous Technological Progress and Infinite Economic Growth

      • Karl Farmer, Matthias Schelnast
      Pages 139-152

    7. Human Capital, Religion, and Economic Growth

      • Karl Farmer, Matthias Schelnast
      Pages 153-169

    8. Economic Growth with Bubbles

      • Karl Farmer, Matthias Schelnast
      Pages 171-191

    9. Involuntary Unemployment in an OLG Growth Model with Public Debt and Human Capital

      • Karl Farmer, Matthias Schelnast
      Pages 193-222

    10. Robots, Human Capital Investment, Welfare, and Unemployment in a Digital World Economy

      • Karl Farmer, Matthias Schelnast
      Pages 223-255

  4. Part II

    1. Front Matter

      Pages 257-257
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    2. International Parity Conditions in a Two-Country OLG Model Under Free Trade

      • Karl Farmer, Matthias Schelnast
      Pages 259-281

    3. Factor Proportion, Inter-Sectoral Trade, and Product Life Cycle

      • Karl Farmer, Matthias Schelnast
      Pages 283-301

    4. Product Differentiation, Decreasing Costs, and Intra-Sectoral Trade

      • Karl Farmer, Matthias Schelnast
      Pages 303-324

    5. Globalization, Capital Accumulation, and Terms of Trade

      • Karl Farmer, Matthias Schelnast
      Pages 325-343

    6. Innovation, Growth, and Trade in a Two-Country OLG Model

      • Karl Farmer, Matthias Schelnast
      Pages 345-364

    7. Real Exchange Rate and Public Debt in a Two-Advanced-Country OLG Model

      • Karl Farmer, Matthias Schelnast
      Pages 365-396

    8. Public Debt Reduction in Advanced Countries and its Impacts on Emerging Countries

      • Karl Farmer, Matthias Schelnast
      Pages 397-424
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Keywords

About this book

Revised and updated for the 2nd edition, this textbook guides the reader towards various aspects of growth and international trade in a Diamond-type overlapping generations framework. Using the same model type throughout the book, timely topics such as growth with bubbles, robots and involuntary unemployment, financial integration and house price dynamics, policies to mitigate climate change and the persistence of religion in a globalized market economy are explored.

The first part starts from the “old” growth theory and bridges to the “new” growth theory (including R&D and human capital approaches). The second part presents an intertemporal equilibrium theory of inter- and intra-sectoral trade, investigates innovation, growth and trade and limits to public debt as well as nationally and internationally optimal climate policies. The debt dynamics of the Euro Zone and the origins of intra-EMU and Asian-US trade imbalances are also explored.


The book is primarily addressed to upper undergraduate and graduate students wishing to proceed to the analytically more demanding journal literature.


Authors and Affiliations

  • Department of Economics, University of Graz, Graz, Austria

    Karl Farmer, Matthias Schelnast

About the authors

Karl Farmer is a professor emeritus and former head of the department of economics at the University of Graz (Austria). His current research addresses limits to public debt under involuntary unemployment, global climate policy and the effects of robots and digitalization on employment by means of the Overlapping Generations approach. He is author of many books and articles in established journals as Economic Theory, Economic Modeling, Journal of Economics, Resource and Environmental Economics, International Review of Economics and International Economic Journal among others.
 
Matthias Schelnast is a former lecturer for macro, micro, and international economics at the department of economics at the University of Graz. His research focuses on public debt and optimal debt reduction.


Bibliographic Information

  • Book Title: Growth and International Trade

  • Book Subtitle: An Introduction to the Overlapping Generations Approach

  • Authors: Karl Farmer, Matthias Schelnast

  • Series Title: Springer Texts in Business and Economics

  • DOI: https://doi.org/10.1007/978-3-662-62943-7

  • Publisher: Springer Berlin, Heidelberg

  • eBook Packages: Economics and Finance, Economics and Finance (R0)

  • Copyright Information: Springer-Verlag GmbH Germany, part of Springer Nature 2021

  • Hardcover ISBN: 978-3-662-62942-0Published: 02 April 2021

  • Softcover ISBN: 978-3-662-62945-1Published: 02 April 2022

  • eBook ISBN: 978-3-662-62943-7Published: 01 April 2021

  • Series ISSN: 2192-4333

  • Series E-ISSN: 2192-4341

  • Edition Number: 2

  • Number of Pages: XXI, 588

  • Number of Illustrations: 111 b/w illustrations

  • Topics: Economic Growth, International Economics, Public Economics

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