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The Ramsey Model Reading - Fidrmuc
www.fidrmuc.netThe Ramsey Model Reading: Romer, Chapter 2-A; Developed by Ramsey (1928), later developed further by Cass (1965) and Koopmans (1965). Similar to the Solow model: labor and knowledge grow at exogenous rates.
The Solow Growth Model - Jan Fidrmuc's Home Page
www.fidrmuc.netThe Solow Growth Model Robert Solow (1956), T.W. Swan (1956). Assumptions Savings and investment decisions are exogenous (no individual optimization).