Cambridge Distribution in a World Economy
|dc.identifier.citation||O'Connell, J. (1999) "Cambridge Distribution in a World Economy"(Working Paper No. 0042) Department of Economics, National University of Ireland, Galway.||en|
|dc.description.abstract||The paper outlines a two-country Cambridge model of growth and distribution. The condition for the Cambridge equation to apply to the world economy is outlined. When this is satisfied, a dual theorem holds in one of the two countries, and the country with the greater aggregate savings ratio is in current account surplus. The original Cambridge model was formulated as a means of equating the warranted and natural growth rates of Harrod (1939) and Domar (1946) for the case of a closed economy. Thus, the world version is a method of satisfying Harrod's requirement that his model be capable of extension so as to include foreign trade.||en|
|dc.publisher||National University of Ireland, Galway||en|
|dc.title||Cambridge Distribution in a World Economy||en|
Files in this item
This item is available under the Attribution-NonCommercial-NoDerivs 3.0 Ireland. No item may be reproduced for commercial purposes. Please refer to the publisher's URL where this is made available, or to notes contained in the item itself. Other terms may apply.
The following license files are associated with this item: