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Beyond Balanced Growth Piyabha Kongsamut

Beyond Balanced Growth

Piyabha Kongsamut

Published June 1st 2001
ISBN : 9781281602121
ebook
22 pages
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 About the Book 

Balanced growth models are widely used in macroeconomics because they are consistent with the well-known Kaldor facts regarding economic growth. Kaldor stressed that the growth rate of output, the capital-output ratio, the real interest rate, and theMoreBalanced growth models are widely used in macroeconomics because they are consistent with the well-known Kaldor facts regarding economic growth. Kaldor stressed that the growth rate of output, the capital-output ratio, the real interest rate, and the labor income share are all roughly constant over time. The constancy of these great ratios provides a good characterization of the long-run behavior of the U.S. economy.