Differential savings, factor shares, and
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Volker BΓΆhm; Leo Kaas
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Article
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2000
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Elsevier Science
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English
β 540 KB
The paper analyzes the dynamic properties of the neoclassical one-sector growth model with di!erential savings in the sense of Kaldor}Pasinetti. The economy exhibits unstable steady states and #uctuations if the income distribution varies su$ciently and if shareholders save more than workers. The pa