On the Importance of Lags in Growth Models.
CARNEGIE-MELLON UNIV PITTSBURGH PA MANAGEMENT SCIENCES RESEARCH GROUP
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The report offers some theoretical considerations on the role of lags and capital formation in growth models as well as the results of some numerical computations. Although valid for more general models, the theoretical discussion is made in the framework of Tsukuis model. The computations are those of expansion factors in models of the von Neumann type. They have been done to explore the nature of bias in expansion factors resulting from different simplifying assumptions. Author
- Economics and Cost Analysis
- Operations Research