Economic growth and generalized depreciation

Steven M. Goldman; Tosio Kato; Vai Lam Mui

doi:10.1016/0304-3878(90)90093-Q

Economic growth and generalized depreciation

Steven M. Goldman
, Tosio Kato
, Vai Lam Mui

Research output: Contribution to journal › Article › Research › peer-review

Abstract

This note is intended to demonstrate the robustness of the exponential assumption regarding depreciation in the Solow neoclassical one sector model of economic growth. Specifically, we shall show that for virtually any pattern of depreciation, there exists an average depreciation rate that replaces the exponential one in the stationary state equation and, for the usual neoclassical version of the production function, the capital-labor ratio converges to a steady state.

Original language	English
Pages (from-to)	397-400
Number of pages	4
Journal	Journal of Development Economics
Volume	34
Issue number	1-2
DOIs	https://doi.org/10.1016/0304-3878(90)90093-Q
Publication status	Published - 1 Jan 1990
Externally published	Yes

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 8 Decent Work and Economic Growth

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10.1016/0304-3878(90)90093-Q

Cite this

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title = "Economic growth and generalized depreciation",

abstract = "This note is intended to demonstrate the robustness of the exponential assumption regarding depreciation in the Solow neoclassical one sector model of economic growth. Specifically, we shall show that for virtually any pattern of depreciation, there exists an average depreciation rate that replaces the exponential one in the stationary state equation and, for the usual neoclassical version of the production function, the capital-labor ratio converges to a steady state.",

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AU - Kato, Tosio

AU - Mui, Vai Lam

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N2 - This note is intended to demonstrate the robustness of the exponential assumption regarding depreciation in the Solow neoclassical one sector model of economic growth. Specifically, we shall show that for virtually any pattern of depreciation, there exists an average depreciation rate that replaces the exponential one in the stationary state equation and, for the usual neoclassical version of the production function, the capital-labor ratio converges to a steady state.

AB - This note is intended to demonstrate the robustness of the exponential assumption regarding depreciation in the Solow neoclassical one sector model of economic growth. Specifically, we shall show that for virtually any pattern of depreciation, there exists an average depreciation rate that replaces the exponential one in the stationary state equation and, for the usual neoclassical version of the production function, the capital-labor ratio converges to a steady state.

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U2 - 10.1016/0304-3878(90)90093-Q

DO - 10.1016/0304-3878(90)90093-Q

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JO - Journal of Development Economics

JF - Journal of Development Economics

IS - 1-2

ER -

Economic growth and generalized depreciation

Abstract

UN SDGs

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