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Reply to Brendan Beare

Author

Listed:
  • William Easterly
  • Stanley Fischer

Abstract

This is our reply to Brendan Beare’s comment on our paper. While we find his criticism to be both valid and helpful, a modified version of our original model still confirms that a low elasticity of substitution between capital and labor doomed the Soviet strategy of extensive growth through capital accumulation.

Suggested Citation

  • William Easterly & Stanley Fischer, 2008. "Reply to Brendan Beare," Econ Journal Watch, Econ Journal Watch, vol. 5(2), pages 145-147, May.
  • Handle: RePEc:ejw:journl:v:5:y:2008:i:2:p:145-147
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    References listed on IDEAS

    as
    1. Brendan K. Beare, 2008. "The Soviet Economic Decline Revisited," Econ Journal Watch, Econ Journal Watch, vol. 5(2), pages 135-144, May.
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    More about this item

    Keywords

    Economic growth; Soviet economy; extensive growth;

    JEL classification:

    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • N14 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: 1913-

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