Leon-Ledesma, Miguel; Thirlwall, Anthony P. - In: Banca Nazionale del Lavoro Quarterly Review 53 (2000) 215, pp. 433-445
In mainstream growth theory, including endogenous growth theory, the naturalrate of growth as defined by Harrod, is still treated as exogenous. In practice, however, both the growth of the labour force and the growth of labour productivity are endogenous to demand. This has theoretical...