کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
989677 | 935449 | 2009 | 10 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Neoclassical production theory and growth with unemployment: The stability issue revisited
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موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
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چکیده انگلیسی
A common belief in economic growth theory is that the instability of the balanced growth path of models based on a non-neoclassical production theory, such as the Harrod–Domar or Goodwin-type models, may be removed by introducing neoclassical technology and substitutability between factors. This does not need to be true. As shown in this paper, Solow-type models with sluggishly adjusting, non-market-clearing, real wages and endogenous fertility may suffer instability. Not only: instability may be favoured by too strong a degree of neoclassical substitution in the economy.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Structural Change and Economic Dynamics - Volume 20, Issue 2, June 2009, Pages 126–135
Journal: Structural Change and Economic Dynamics - Volume 20, Issue 2, June 2009, Pages 126–135
نویسندگان
Luciano Fanti, Piero Manfredi,