Differential savings, factor shares, and endogenous growth cycles

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BÖHM, Volker, Leo KAAS, 2000. Differential savings, factor shares, and endogenous growth cycles. In: Journal of Economic Dynamics & Control. 24(5-7), pp. 965-980. Available under: doi: 10.1016/S0165-1889(99)00032-9

@article{Bohm2000Diffe-12048, title={Differential savings, factor shares, and endogenous growth cycles}, year={2000}, doi={10.1016/S0165-1889(99)00032-9}, number={5-7}, volume={24}, journal={Journal of Economic Dynamics & Control}, pages={965--980}, author={Böhm, Volker and Kaas, Leo} }

Kaas, Leo 2011-03-25T09:42:21Z application/pdf Böhm, Volker 2011-03-25T09:42:21Z Kaas, Leo The paper analyzes the dynamic properties of the neoclassical one-sector growth model with differential savings in the sense of Kaldor-Pasinetti. The economy exhibits unstable steady states and fluctuations if the income distribution varies sufficiently and if shareholders save more than workers. The paper analyzes in detail the dynamics for the case with a fixed proportions technology as well as with a smooth approximation. If the savings propensities differ by an arbitrarily small amount, the system exhibits topological chaos in the sense of Li and Yorke for an open set of production functions. The analytical results are supplemented by numerical experiments. 2000 Böhm, Volker eng terms-of-use First publ. in: Journal of Economic Dynamics & Control 24 (2000), 5-7, pp. 965-980 Differential savings, factor shares, and endogenous growth cycles

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