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- W2558657854 abstract "For a neoclassical two-sector optimal growth model with Cobb-Douglas technologies and sector specific technical progress, we examine three properties: (i) each sector has an optimal path by which it will grow at a constant growth rate (an optimal constant growth path); (ii) the optimal constant growth paths satisfy saddle path stability; (iii) the elasticity of substitution between total labor and total capital is less than one along the optimal constant growth paths. These results, presented by Acemoglu and Guerrieri in their model with two intermediate good sectors and one final good sector, will give a firm theoretical base for establishing the Kaldor and Kuznets facts, and are proven herein for a neoclassical growth model." @default.
- W2558657854 created "2016-12-08" @default.
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- W2558657854 date "2016-12-04" @default.
- W2558657854 modified "2023-09-27" @default.
- W2558657854 title "Nonbalanced Growth in a Neoclassical Two-Sector Optimal Growth Model" @default.
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- W2558657854 doi "https://doi.org/10.1007/978-3-319-44076-7_14" @default.
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