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Trevor Swan on Equilibrium Growth with Technical Progress

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Robert Dixon

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Abstract

There is an important difference between Swan's 1956 exposition of neoclassical growth and that of Solow. In particular, Swan's focus is on the output-capital ratio and its behaviour over time while Solow's focus is on the capital-labour ratio and its behaviour over time. Related to this, is the clear (and correct) statement to be found in Swan's article of the behaviour of the output-capital ratio in equilibrium and the determination of the equilibrium rate of growth of output in the presence of technological progress. Copyright 2003. The Economic Society of Australia.

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Publisher Info
Article provided by The Economic Society of Australia in its journal The Economic Record.

Volume (Year): 79 (2003)
Issue (Month): 247 (December)
Pages: 487-490
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Handle: RePEc:bla:ecorec:v:79:y:2003:i:247:p:487-490

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  1. Voxi Heinrich S Amavilah & Richard T. Newcomb, 2004. "Economic Growth and the Financial Economics of Capital Accumulation under Shifting Technological Change," GE, Growth, Math methods 0404001, EconWPA. [Downloadable!]
  2. Voxi Heinrich Amavilah, 2005. "Solow and the Native Americans: Technological Residuals and the Economic Performance of U.S. Native American Economies," Development and Comp Systems 0505008, EconWPA. [Downloadable!]
  3. Voxi Heinrich Amavilah, 2004. "Apparent Solow- and Solow-like Technological Residuals and the Economic Performance of U.S. Native American Economies," Development and Comp Systems 0406004, EconWPA. [Downloadable!]
  4. Robert W. Dimand & Barbara J. Spencer, 2008. "Trevor Swan And The Neoclassical Growth Model," NBER Working Papers 13950, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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