Herzer, Dierk; Kemper, Niels; Zamparelli, Luca - Volkswirtschaftliche Fakultät, … - 2009
One of the central hypotheses of the neoclassical growth literature is the balanced- growth hypothesis, which predicts that output, consumption, and investment grow at the same rate. Empirically, this implies that the consumption-to-output ratio and the investment-to-output ratio must be...