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Balanced Growth Despite Uzawa

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NBER2016-01-01 更新2025-01-04 收录
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The evidence for the United States points to balanced growth despite falling investment-good prices and an elasticity of substitution between capital and labor less than one. This is inconsistent with the Uzawa Growth Theorem. We extend Uzawa's theorem to show that the introduction of human capital

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2016-01-01
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