Abstract
As a point of reference take a closed economy. Let us begin with a Solow model. At first assume a flexible wage rate. The model can be characterized by a system of four equations:
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© 1997 Springer-Verlag Berlin Heidelberg
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Carlberg, M. (1997). Fixed Wage Rate. In: International Economic Growth. Contributions to Economics. Physica, Heidelberg. https://doi.org/10.1007/978-3-642-59256-0_7
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DOI: https://doi.org/10.1007/978-3-642-59256-0_7
Publisher Name: Physica, Heidelberg
Print ISBN: 978-3-7908-0995-4
Online ISBN: 978-3-642-59256-0
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