A Short Note on the Fallacy of Identification of Technological Progress in Models of Economic Growth

A Short Note on the Fallacy of Identification of Technological Progress in Models of Economic Growth

This study emphasizes the necessity of the Harrod-neutral identification of technological progress for the models of economic growth, which use Cobb–Douglas production function and which are based on stability. Some of the important studies, which reviewed a balanced growth path or a steady state of...

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Main Authors: Senay Acikgoz, Merter Mert
Format: Article
Language:English
Published: SAGE Publishing 2015-04-01
Series:SAGE Open
Online Access:https://doi.org/10.1177/2158244015579942
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spelling doaj-3d3946464d4b4f63a8580956e6f776d82020-11-25T03:06:44ZengSAGE PublishingSAGE Open2158-24402015-04-01510.1177/215824401557994210.1177_2158244015579942A Short Note on the Fallacy of Identification of Technological Progress in Models of Economic GrowthSenay Acikgoz0Merter Mert1Gazi University, Ankara, TurkeyGazi University, Ankara, TurkeyThis study emphasizes the necessity of the Harrod-neutral identification of technological progress for the models of economic growth, which use Cobb–Douglas production function and which are based on stability. Some of the important studies, which reviewed a balanced growth path or a steady state of the Solow model, assumed the nature of technological progress as Hicks-neutral rather than Harrod-neutral. In this work, we have reminded that Harrod-neutral is a better assumption for the nature of technological progress in such studies.https://doi.org/10.1177/2158244015579942
collection DOAJ
language English
format Article
sources DOAJ
author Senay Acikgoz
Merter Mert
spellingShingle Senay Acikgoz
Merter Mert
A Short Note on the Fallacy of Identification of Technological Progress in Models of Economic Growth
SAGE Open
author_facet Senay Acikgoz
Merter Mert
author_sort Senay Acikgoz
title A Short Note on the Fallacy of Identification of Technological Progress in Models of Economic Growth
title_short A Short Note on the Fallacy of Identification of Technological Progress in Models of Economic Growth
title_full A Short Note on the Fallacy of Identification of Technological Progress in Models of Economic Growth
title_fullStr A Short Note on the Fallacy of Identification of Technological Progress in Models of Economic Growth
title_full_unstemmed A Short Note on the Fallacy of Identification of Technological Progress in Models of Economic Growth
title_sort short note on the fallacy of identification of technological progress in models of economic growth
publisher SAGE Publishing
series SAGE Open
issn 2158-2440
publishDate 2015-04-01
description This study emphasizes the necessity of the Harrod-neutral identification of technological progress for the models of economic growth, which use Cobb–Douglas production function and which are based on stability. Some of the important studies, which reviewed a balanced growth path or a steady state of the Solow model, assumed the nature of technological progress as Hicks-neutral rather than Harrod-neutral. In this work, we have reminded that Harrod-neutral is a better assumption for the nature of technological progress in such studies.
url https://doi.org/10.1177/2158244015579942
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