Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/104409
Authors: 
Schlicht, Ekkehart
Year of Publication: 
2014
Series/Report no.: 
Munich Discussion Paper 2014
Abstract: 
This note proposes a growth model that is derived from the standard Solow growth model by replacing the neoclassical production function with Kaldor’s technical progress function while maintaining a marginalist theory of factor prices in the spirit suggested by von Weizsäcker (1966, 1966b). The hybrid model so obtained accounts for balanced growth in a way that appears less arbitrary than the Solow model, especially because it directly accounts for Harrod neutral technical change, without any need for further assumptions.
Subjects: 
directed technical change
directed technological change
bias in innovation
technical progress function
neoclassical production function
Harrod neutrality
Hicks neutrality
Cambridge theory of distribution
marginal productivity theory
Kaldor
Kennedy
von Weizsäcker
Solow model
JEL: 
O30
O40
E12
E13
E25
B59
B31
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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