Titlebook: Introduction to the Theory of Economic Growth; Ramu Ramanathan Textbook 1982 Springer-Verlag Berlin Heidelberg 1982 Keynes.Theory of Econo

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Two Sector Growth Models,ll be more appropriate to treat the production and demand for the two types of commodities separately. We first review the static two-sector, two-factor model and derive many propositions which will be useful in discussing open economy models. Issues on dynamic behavior of these models are then explored.

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0075-8442 ic growth. Although there have been several books on this topic published in the last eight years, I have been dis- satisfied with them for several reasons. First, books such as those by Wan, Burmeister and Dobell are uneven in their technical difficulty and, while they are excellent, are apparently

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Introduction,tput have increased, but by rates which cannot be accounted for by capital accumulation alone. The relative shares of wages and profits and the real rate of interest have been constant in the long run, even though they have fluctuated during business cycles. The overall capital-output ratio and the

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Review of Production Functions and their Properties,n which there are two variable . of production or . and a single commodity produced or .. Output is determined by the aggregate production function represented by the relation Y = F(K, L) where Y is aggregate output, K is a variable factor of production labeled . and L is ., the other variable facto

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Basic Neo-Classical Growth Models,e level of investment generated in an economy be offset by the volume of saving made at the full employment income. This conclusion is based on the assumption that the labor force and the productive capacity of a given economy are fixed. In the short run these assumptions are realistic but labor for

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Technical Progress,sible because of technical changes in the production processes. In fact several studies have found that the observed increases in per capita income cannot be accounted for by capital formation alone. Change in productivity is the major explanation.. Technical progress is said to occur if the product