THE SOLOW ’ S MODEL WITH ENDOGENOUS POPULATION : A NEOCLASSICAL GROWTH CYCLE MODEL

@inproceedings{Fanti2004THES,
  title={THE SOLOW ’ S MODEL WITH ENDOGENOUS POPULATION : A NEOCLASSICAL GROWTH CYCLE MODEL},
  author={Luciano Fanti and Piero Manfredi},
  year={2004}
}
It is shown here that the Solow (1956) neo-classical growth paradigm not only explains the “first” stylised fact of economic growth, namely the existence of a globally stable state of balanced growth, but, once endowed with a demographically founded formulation of the labour supply, is also capable to endogenously explain a second main stylised fact of growth, i.e., the generation of globally stable oscillations around the path of balanced growth.