Abstract
The supply side (sector technologies, full employment, allocation efficiency) specification of the two-sector economy was very general in chapter 8, whereas the demand side (expenditure system) was based upon the particular specification of proportional saving. An interesting alternative to the latter is the classical saving hypothesis with only saving out of capital income, and hence with aggregate saving depending on the factor income distribution.
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© 1994 Springer Science+Business Media Dordrecht
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Jensen, B.S. (1994). Flexible technologies and classical saving. In: The Dynamic Systems of Basic Economic Growth Models. Mathematics and Its Applications, vol 302. Springer, Dordrecht. https://doi.org/10.1007/978-94-011-1036-5_11
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DOI: https://doi.org/10.1007/978-94-011-1036-5_11
Publisher Name: Springer, Dordrecht
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Online ISBN: 978-94-011-1036-5
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