Instability of equilibrium growth (endogenous or not)
If the solution to a dynamic optimization problem is interpreted as an equilibrium growth path, then the Harrodsburg instability proposition applies not only to the neoclassical growth model but also to the more recent endogenous growth version.
| Published in: | Philippine Review of Economics and Business (formerly The Philippine Review of Business and Economics) Vol. XXXIII, no. 2 (Dec. 1996), 175-183 |
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| Main Author: | |
| Format: | Article |
| Language: | English |
| Published: |
1996
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| Subjects: |