Felbermayr, Gabriel; Licandro, Omar - Institut für Volkswirtschaftslehre, … - 2003
We show that the two-sector version of the AK model proposed by Rebelo (1991) can be read as an endogenous growth … the empirical facts of trending real investment rates and stationary output growth, this incompatibility vanishes in the …. Thus, AK-type endogenous growth models comply much better with empirical evidence, once they are augmented with a strictly …