Felbermayr, Gabriel; Licandro, Omar - In: Contributions to Macroeconomics 5 (2005) 1, pp. 1322-1322
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 generates … in US NIPA data. Secondly, Jones' (1995) claim that the AK model fails to reconcile the empirical facts of trending real …