School of Economics | The Harrod-Domar Growth Model:
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21 Dec

Posted at 00:27h in SOE by
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The Harrod-Domar Growth Model: The aggregate production function—which is the main pillar of every growth theory—can take different forms, depending on the actual relationship between the factors of production (K and L) and aggregate output. The Harrod- Domar model is based on the simple fixed-coefficient pro­duction...