An Essay in Dynamic Theory¶
Harrod, R. F. (1939). An Essay in Dynamic Theory. The Economic Journal.
Cited by¶
1 citation across 1 artifact.
Each citation links to the sentence it supports in the citing article.
Domain-specific¶
- Economic Growth Model
- Harrod–Domar uses saving and a fixed capital-output ratio to identify a warranted growth rate but supplies no restoring mechanism after deviation
This sourceHarrod's own essay, which derives the warranted rate Gw = s/C from the saving ratio and the capital coefficient and states the instability directly: “a departure from equilibrium, instead of being self-righting, will be self-aggravating.”.
SupportedVerified against the source
- Harrod–Domar uses saving and a fixed capital-output ratio to identify a warranted growth rate but supplies no restoring mechanism after deviation
Verification¶
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