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Chaos and Evolution in Economic Processes

  • Richard H. Day
  • Ester Boserup

Abstract

The Tinbergen-Solow-Swan growth model set forth nearly four decades ago was motivated by a striking stylized fact: if relatively short-run fluctuations are disregarded, the time series of measured aggregate output for the various industrial countries display a remarkably stable rate of growth. The theory produced exponential trends and, when augmented by a constant rate of technological improvement, exhibited paths of output that fitted the data extremely well.2

Keywords

Production Function Technological Level Economic Unit Exhaustible Resource Adult Equivalent 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Kumaraswamy Velupillai 1992

Authors and Affiliations

  • Richard H. Day
  • Ester Boserup

There are no affiliations available

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