Sedgley, Norman; Elmslie, Bruce - In: Journal of Macroeconomics 32 (2010) 1, pp. 103-117
This paper uses the concept of cointegration and a theoretical framework that incorporates transitional dynamics to re-examine the evidence concerning empirical support for 1st generation, semi-endogenous growth, and Schumpeterian growth. The data for the post-war US economy show that the...