A Variant of Uzawa's Theorem
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vor 18 Jahren
Uzawa (1961) has shown that balanced growth requires technological
progress to be strictly Harrod neutral (purely labor-augmenting).
This paper offers a slightly more general variant of the theorem
that does not require assumptions about savings behavior or factor
pricing and is much easier to prove.
progress to be strictly Harrod neutral (purely labor-augmenting).
This paper offers a slightly more general variant of the theorem
that does not require assumptions about savings behavior or factor
pricing and is much easier to prove.
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