Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
9549272 | Economics Letters | 2005 | 8 Pages |
Abstract
Multiple steady states may arise in standard neoclassical growth models if the savings rate of wage income exceeds that of capital income. This paper shows that endogenous capital utilization may produce such savings behavior in an otherwise standard Solow model.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Carl-Johan Dalgaard, Jes Winther Hansen,