Abstract
The dynamic specifications of the classical growth models in chapter 2–3 tacitly envisioned a so-called two-class society, where one class (labor) propagates itself but does not save, while the other class (capitalist) saves (accumulating capital) but leaves no offspring beyond reproduction. The prevalent emphasis of such two-class features of classical growth may, however, be replaced by a one-class (aggregate) specification of the dynamic systems hitherto considered.
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© 1994 Springer Science+Business Media Dordrecht
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Jensen, B.S. (1994). Aggregate endogenous growth models. 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_5
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DOI: https://doi.org/10.1007/978-94-011-1036-5_5
Publisher Name: Springer, Dordrecht
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