Felbermayr, Gabriel J; Licandro, Omar - In: Topics in Macroeconomics 5 (2005) 1
Abstract This paper analyzes some unnoticed predictions of the two-sector AK model in line with the recent literature … on embodied technical change. Firstly, by confining constant returns to capital to the investment sector, the AK model … rate observed in US NIPA data. Secondly, Jones' (1995) claim that the AK model fails to reconcile the empirical facts of …