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Journal of Economic Perspectives: Vol. 14 No. 1 (Winter 2000)
JEP Volume. 14, Issue 1 | 
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Some Macroeconomics for the 21st Century
Article Citation
Lucas, Robert E. 2000. "Some Macroeconomics for the 21st Century."
Journal of Economic Perspectives,
14(1): 159-168.
DOI: 10.1257/jep.14.1.159
DOI: 10.1257/jep.14.1.159
Abstract
This note describes a numerical simulation of a model of economic growth, a simplified version of Robert Tamura's (1996) model of world income dynamics, based on technology diffusion. The model makes predictions for trends in average world income growth and about the evolution of the relative income distribution that accord well with observation. The model is used to forecast the course of world income growth and income inequality over the century to come.
Article Full-Text Access
Full-text Article (Complimentary)
Authors
Lucas, Robert E. (U Chicago)
JEL Classifications
E00: Macroeconomics and Monetary Economics: General
A11: Role of Economics; Role of Economists
O40: Economic Growth and Aggregate Productivity: General
A11: Role of Economics; Role of Economists
O40: Economic Growth and Aggregate Productivity: General
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