Econometrica: Jan 1964, Volume 32, Issue 1

Economic Growth under Neutral Technical Progress<101:EGUNTP>2.0.CO;2-V
p. 101-121

Ken-ichi Inada

This paper studies the property of the dynamic paths of a model in which neutral technical progress in Harrod's sense exists and in which the labor efficiency of newly installed capital goods increases at an exogenously given constant rate. The relative stability of a balanced growth path is shown.

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