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Comparison of neoclassical and neo-Austrian growth models

  • This paper compares the one-sector neoclassical (Solow) growth model with a neo-Austrian growth model. The solutions of the neoclassical growth model in terms of the golden rule of accumulation and the Ramsey rule are well known, and these conditions are compared with the outcomes of the neo-Austrian growth model, which we derive using a basic three-process model.

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Document Type:Peer-Reviewed Article
Author:John L. Proops, Stefan Speck
Year of Publication:1996
Source Title (English):Structural change and economic dynamics
First Page:173
Last Page:192
Dewey Decimal Classification:330 Wirtschaft
Abteilung:Abteilung Klimapolitik