Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
884462 | Journal of Economic Behavior & Organization | 2008 | 8 Pages |
Abstract
Pasinetti's [Pasinetti, L.L., 1960. A mathematical formulation of the Ricardian system. Review of Economic Studies 27, 78–98] model formalizing Ricardian growth theory and one of the simplest models developed within the ‘new’ growth theory [Rebelo, S., 1991. Long run policy analysis and long run growth. Journal of Political Economy 99, 500–521] are shown to share the same structure. This enforces the thesis according to which many endogenous growth models have a ‘Classical’ flavour. The main difference from Pasinetti's to Rebelo's framework may be interpreted as reflecting the change in the consumption pattern of workers from early to late industrial societies.
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Authors
Simone D’Alessandro, Neri Salvadori,