Logo
DeutschClear Cookie - decide language by browser settings
Schlicht, Ekkehart (2006): A Variant of Uzawa's Theorem. Discussion Papers in Economics 2006-8 Economics Bulletin, 5
[img]
Preview

PDF

369kB

Abstract

Uzawa (1961) has shown that balanced growth requires technological progress to be strictly Harrod neutral (purely labor-augmenting). This paper offers a slightly more general variant of the theorem that does not require assumptions about savings behavior or factor pricing and is much easier to prove.