This paper argues that growth theory needs a more general quot;regularityquot; concept than that of exponential growth. This offers the possibility of considering a richer set of parameter combinations than in standard growth models. Allowing zero population growth in the Jones (1995) model...

Growth models often give rise to saddle-point stable dynamic systems with multi-dimensional stable manifolds. It is argued that standard solution procedures used to numerically approximate the transition process are generally inadequate when the (stable) eigenvalues differ substantially in...

We study a dynamic version of a Heckscher-Ohlin model with two countries, two factors and two sectors of production. It is based on the neoclassical growth model by Oniki and Uzawa (1965). We remove their balance of payments restriction by introducing an international market for equity shares of...

Many empirical questions about economic growth and development are left open due to the lack of long time series of reliable GDP estimates. The share of the labor force employed in agriculture can fill this gap. Agricultural employment shares are highly correlated with GDP per capita, less prone...