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When economic growth is less than exponential

机译：当经济增长小于指数

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This paper argues that growth theory needs a more general notion of “regularity” than that of exponential growth. We suggest that paths along which the rate of decline of the growth rate is proportional to the growth rate itself deserve attention. This opens up for considering a richer set of parameter combinations than in standard growth models. Moreover, it avoids the usual oversimplistic dichotomy of either exponential growth or stagnation. Allowing zero population growth in three different growth models (the Jones R&D-based model, a learning-by-doing model, and an embodied technical change model) serves as illustration that a continuum of “regular” growth processes fill the whole range between exponential growth and complete stagnation.
机译：本文认为，增长理论需要比指数增长更普遍的“规律性”概念。我们建议，应注意增长率下降率与增长率本身成正比的路径。这为考虑比标准增长模型中更丰富的参数组合提供了机会。而且，它避免了指数增长或停滞的通常过于简单的二分法。在三种不同的增长模型（基于Jones R＆D的模型，“边做边学”的模型以及具体化的技术变革模型）中实现零人口增长可以说明连续的“常规”增长过程填充了指数之间的整个范围增长和完全停滞。

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