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Capital Expansion, Endogenous Growth and Equilibrium Unemployment

✍ Scribed by Hian Teck Hoon


Book ID
108521801
Publisher
John Wiley and Sons
Year
1998
Tongue
English
Weight
343 KB
Volume
37
Category
Article
ISSN
0004-900X

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This paper concerns the transitional dynamics of the one sector endogenous growth model with physical and human capital when gross investments are irreversible. It has been claimed that the transition path is on the stable saddle path of the system that describes the dynamics of the economy as long