A Malthus-Swan-Solow Model of Economic Growth
9 Pages Posted: 1 Mar 2012 Last revised: 20 Nov 2017
Date Written: February 15, 2016
Abstract
In this paper we introduce a labor supply based on Malthusian ideas in the Solow-Swan growth model (without technical progress). We show that this model may yield several steady state values of per capita income and that an increase in total factor productivity might decrease the capital-labor ratio in a stable steady state.
Keywords: Malthus, Solow, multiplicity, steady states
JEL Classification: O11, O41
Suggested Citation: Suggested Citation
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