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What is Joan Robinson about?

This document summarizes key aspects of an endogenous growth model presented in an economics lecture. It describes a two-sector endogenous growth model that avoids diminishing returns to capital and allows sustained long-run growth. The model features a representative household with CRRA preferences, inelastic labor supply, and a production sector with a constant returns to scale AK technology. It shows that in this setting, consumption, capital, and output all grow at a constant, endogenous rate determined

Author

Vipasha Jain

Language

EN