IDEAS home Printed from https://ideas.repec.org/h/spr/sprchp/978-3-031-52493-6_9.html
   My bibliography  Save this book chapter

Canonical Classical Aggregate Growth Models

In: The Elements and Dynamic Systems of Economic Growth and Trade Models

Author

Listed:
  • Bjarne S. Jensen

    (University of Southern Denmark (SDU))

Abstract

This chapter extend the classical growth models of Chap. 8 to aggregate (macro) models, replacing in the governing functions the former wage- and capital incomes by national income and with now using national factor accumulation parameters. The examinations of the solutions to the aggregate growth model are performed for both the decreasing return to scale (trap model) and constant return to scale (long-run balanced growth). The results of Chap. 8 carry over to the aggregate version. The chapter ends with a Synopsis of the classical growth models. The dynamic specifications of the classical growth modelsClassical growth modelclassical growth model in Chaps. 7 – 8 tacitly envisioned a so-called two-class society, Two-class societytwo-class society where one class (labor) propagates itself but does not save, while the other class (capitalist) saves (accumulating capital) but leaves no offspring beyond reproduction. The prevalent emphasis of such two-class features of classical growth may, however, be replaced by a one-classOne-class growth modelone-class growth model (aggregate) specification of the dynamic systems hitherto considered.

Suggested Citation

  • Bjarne S. Jensen, 2025. "Canonical Classical Aggregate Growth Models," Springer Books, in: The Elements and Dynamic Systems of Economic Growth and Trade Models, edition 0, chapter 0, pages 239-247, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-52493-6_9
    DOI: 10.1007/978-3-031-52493-6_9
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:sprchp:978-3-031-52493-6_9. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.