A TWO-SECTOR EXTENSION OF SWAN'S MODEL OF ECONOMIC GROWTH: THE CASE OF NO TECHNICAL CHANGE
Abstract
The purpose of the present analysis is to extend the Swan one-sector one-good model (The Economic Record, XXXII:334-361, 1956) into a two-sector two-good economy for the case of no technical change. In this case a simple diagrammatic representation of competitive growth is possibleAND THE EXPOSITION IS SIMPLE AS WELL AS INDICATIVE OF THE PROPERTIES OF TWO SECTOR MODELS. The composition of the capital stock and the labor is analyzed and the allocation of these factors between the two sectors is determined. Our two-sector model is the natural set-up for the analysis of the relative price of capital to consumer goods. (Author)
Document Details
- Document Type
- Technical Report
- Publication Date
- Dec 13, 1961
- Accession Number
- AD0269734
Entities
People
- Mordecai Kurz
Organizations
- Stanford University