Duczynski, Petr - In: Bulletin of the Czech Econometric Society 21 (2014)
the AK model on the side of technology. Unlike the basic AK model, these extensions exhibit transitional dynamics. We … extensions of the AK model, the growth rate of the economy is frequently observed to be faster in the beginning than in the … not in their steady states. This observation underscores the importance of theoretical extensions of the basic AK model. …