English, Article, Journal or magazine article edition: Economic Growth, the Mathematical Pendulum, and a Golden Rule of Thumb Thomas Christiaans

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Bookmark: http://trove.nla.gov.au/version/5223
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Economic Growth, the Mathematical Pendulum, and a Golden Rule of Thumb
Author
  • Thomas Christiaans
Physical Description
  • preprint
Notes
  • It is argued that due to their general instability dynamic optimization models cannot be used as positive theories of economic growth. The argument is substantiated by (numerical) examples. A simple rule of thumb is provided as an alternative to the RKC model. This rule is shown to perform well from a normativeand to be reasonable from a positive point of view. The model is consistent with empirically estimated rates of convergence if a broad concept of capital is used.
  • RePEc:sie:siegen:94-01
Language
  • English
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