Dalgaard, Carl-Johan; Strulik, Holger - Økonomisk Institut, Københavns Universitet - 2007
The present paper provides a new theory of capital accumulation and growth. While the law of motion for capital per worker is structurally identical to that of the neoclassical growth model (Solow, 1956), the underlying foundation is very different. In contrast to the Solow model, the purposed...