Reply to Brendan Beare
This is our reply to Brendan Beareâ€™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.
Volume (Year): 5 (2008)
Issue (Month): 2 (May)
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- 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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