Journal ArticleDOI
The Pasinetti Paradox in Neoclassical and More General Models: a Correction
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In this article, the authors show that the maximum extent of the dual domain occurs when the inequality becomes sl? oc(k*)sl, the Samuelson-Modigliani condition-when all workers have the same savings propensity (A1 = 1), whilst the minimum extent occurs when large weight is accorded the worker categories who are minimal savers, when inequality approaches sl? scl.Abstract:
_S s _ ._ r*k* (k*) S1-Si f(k*) -r*k* I1(k*)9 i.e. the domain of the Pasinetti and Dual solutions in the extended case is dependent on the proportion of workers in each non-capitalist category and the savings propensities of all those categories, as well as on the maximum savings propensity of the capitalist class and the form of the production function. Thus we may note that the maximum extent of the Dual domain occurs when the inequality becomes sl ? oc(k*)sl, the Samuelson-Modigliani condition-when all workers have the same savings propensity (A1 = 1), whilst the minimum extent of the Dual domain occurs when large weight is accorded the worker categories who are minimal savers, when the inequality approaches sl ? scl.read more
Citations
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Does Saving Really Matter For Growth In Developing Countries? The Case Of A Small Open Economy
TL;DR: This article employed the Toda and Yamamoto (1995) and Dolado and Lutkepohl (1996) -TYDL methodology to uncover the direction of causal relationship between savings and economic growth in Nigeria between 1970 and 2006.
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Modigliani's life-cycle theory of savings fifty years later
TL;DR: In the 1950s, Modigliani proposed a "life cycle" theory of spending in which people make intelligent choices about their spending at each age limited by the resources available over their lives.
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Steady-State Growth and Distribution with an Endogenous Direction of Technical Change
TL;DR: In this article, a model of labor-constrained accumulation and economically directed technical progress has a stable steady state at which the class distribution of income is invariant with respect to population and saving parameters yet sensitive to workers' stances in wage bargaining and to the tax and transfer policies of a redistributive state.
Journal ArticleDOI
Nonlinear dynamics in a business-cycle model with logistic population growth
TL;DR: In this article, the authors consider a discrete-time growth model of the Solow type where workers and shareholders have different but constant saving rates and the population growth dynamics is described by the logistic equation able to exhibit complicated dynamics.
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Microfinancing for Poverty Reduction and Economic Development; a Case for Nigeria
Omotola Awojobi,Murad A. Bein +1 more
TL;DR: In this article, a causal relationship between micro-finance services and economic growth in Nigeria was established and evaluated with the t-test statistic, while the relevance of the independent variables in explaining the subject will be justified based on the F-statistic test and R2 coefficient of multi-determination.
References
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Journal ArticleDOI
The Pasinetti Paradox in Neoclassical and More General Models
TL;DR: In this article, a machine for transferring adhesive labels from both sides of a single carrier strip to two separate streams of product items on a continuous basis is presented, where a pair of spaced continuously rotating vacuum wheels come in contact with opposite sides of the carrier strip, passing around a loop-forming roller adjacent each vacuum wheel.