On a Class of Growth Models

Johansen's analysis [4] of a vintage-capital growth model is extended by exploring the implications of alternative assumptions about expectations, with special attention being devoted to the polar assumptions of zero and perfect forsight; by introducing an arbitrary number of sectors; and by in...

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Bibliographic Details
Published in:Econometrica 1966-04, Vol.34 (2), p.257-282
Main Authors: Kemp, Murray C., Thānh, Phḁm Chí
Format: Article
Language:English
Subjects:
Average propensity to save
Consumer goods industries
Depreciation
Economic growth models
Economic growth rate
Economic life
Growth models
Industrial machinery
Industry
Investment return rates
Labor force
Labor supply
Production functions
Wage rate
Wage rates
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Summary:Johansen's analysis [4] of a vintage-capital growth model is extended by exploring the implications of alternative assumptions about expectations, with special attention being devoted to the polar assumptions of zero and perfect forsight; by introducing an arbitrary number of sectors; and by investigating the distributional aspects of the model.
ISSN:0012-9682
1468-0262
DOI:10.2307/1909933