classical growth model

GPTKB entity

Statements (19)
Predicate Object
gptkbp:instanceOf gptkb:economic_policy
gptkbp:alsoKnownAs gptkb:Ricardian_growth_model
gptkbp:assumes no technological progress
diminishing returns to capital and land
gptkbp:contrastsWith gptkb:Solow-Swan_growth_model
gptkbp:developedBy gptkb:Adam_Smith
gptkb:David_Ricardo
gptkbp:emphasizes role of capital accumulation
labor supply
land as a factor of production
gptkbp:explains distribution of income among classes
gptkbp:focusesOn long-run economic growth
gptkbp:historicalPeriod 19th century
https://www.w3.org/2000/01/rdf-schema#label classical growth model
gptkbp:influenced neoclassical growth model
gptkbp:predicts eventual stationary state
gptkbp:usedIn macroeconomics
gptkbp:bfsParent gptkb:Harrod–Domar_model
gptkbp:bfsLayer 6