Abstract
In his seminal paper on Long-Run Policy Analysis and Long-Run Growth, Rebelo (1991) sets forth an unparalleled parsimonious endogenous growth model. The reason for the popularity of Rebelo’s AK model is obvious: despite of its simplicity, it may explain the empirical phenomenon of sustained cross-country growth disparity. Recently, Crafts (2000) and De Long (2000) document that the gap between the richest and the poorest countries has widened dramatically during the past century.
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© 2002 Springer-Verlag Berlin Heidelberg
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Hornung, D. (2002). A Generalized AK Model. In: Investment, R&D, and Long-Run Growth. Lecture Notes in Economics and Mathematical Systems, vol 509. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-51718-1_7
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DOI: https://doi.org/10.1007/978-3-642-51718-1_7
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-540-42528-1
Online ISBN: 978-3-642-51718-1
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