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• W1639676928 abstract "When the returns to scale of a production process vary with the intensity it is operated at, an AK model with constant returns to scale in production arises endogenously due to replication driven by profit maximization. If replication occurs at the efficiency-maximizing scale, as with perfect competition, the result applies also when the number of production processes must be discrete, thus, overcoming the so-called integer problem. When competition is imperfect, there is only convergence toward the AK model for large enough input use, so an economy is more prone to stalling in a steady state without growth, the smaller and less competitive it is." @default.
• W1639676928 created "2016-06-24" @default.
• W1639676928 creator A5046725788 @default.
• W1639676928 date "2018-12-01" @default.
• W1639676928 modified "2023-10-18" @default.
• W1639676928 title "AN ENDOGENOUSLY DERIVED AK MODEL OF ECONOMIC GROWTH" @default.
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• W1639676928 doi "https://doi.org/10.1017/s1365100516001085" @default.
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