The Review of Economics and Statistics Vol. 52 No. 4 1970
Work Incentives of the Poor: A Reconsideration
Abstract
any point in this region will converge to a quasiequilibrium state with a zero rate of growth of capital [2, p. 66]. The present note indicates that the steady-state growth equilibrium with a positive rate of growth of capital in this case is, in fact, globally stable. The erroneous result in [2] comes from the assertion that K(0) -0 implies K(t) 0 O for all t (p. 65). Instead this assertion should be stated as
- DOI
- 10.2307/1926325
- Volume
- 52
- Issue
- 4
- Pages
- 447
- Sources
- openalex crossref