Di ! erential savings , factor shares , and endogenous growth cycles

@inproceedings{Bo2000DiE,
  title={Di ! erential savings , factor shares , and endogenous growth cycles},
  author={Volker Bo and Hm and Leo Kaas},
  year={2000}
}
The paper analyzes the dynamic properties of the neoclassical one-sector growth model with di!erential savings in the sense of Kaldor}Pasinetti. The economy exhibits unstable steady states and #uctuations if the income distribution varies su$ciently and if shareholders save more than workers. The paper analyzes in detail the dynamics for the case with a "xed proportions technology as well as with a smooth approximation. If the savings propensities di!er by an arbitrarily small amount, the… CONTINUE READING