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New Evidence on Balanced Growth, Stochastic Trends, and Economic Fluctuations

Whelan, Karl
Munich Personal RePEc Archive · Reports
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The one-sector Solow-Ramsey growth model informs how most modern researchers characterize macroeconomic trends and cycles, and evidence supporting the model's balanced growth predictions is often cited. This paper shows, however, that the inclusion of recent data leads to the balanced growth predic
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