The AK model of economic growth is an endogenous growth model used in the theory of economic growth, a subfield of modern macroeconomics. In the 1980s it became progressively clearer that the standard neoclassical exogenous growth models were theoretically unsatisfactory as tools to explore long run growth, as these models predicted economies without technological change and thus they would eventually converge to a steady state, with zero per capita growth. A fundamental reason for this is the diminishing return of capital; the key property of AK endogenous-growth model is the absence of diminishing returns to capital. In lieu of the diminishing returns of capital implied by the usual parameterizations of a Cobb–Douglas production function, the AK model uses a linear model where output is a linear function of capital. Its appearance in most textbooks is to introduce endogenous growth theory.[1]
^Romer, Paul M. (1986). "Increasing Returns and Long-Run Growth". Journal of Political Economy. 94 (5): 1002–1037. CiteSeerX 10.1.1.589.3348. doi:10.1086/261420. JSTOR 1833190. S2CID 6818002.
The AKmodel of economic growth is an endogenous growth model used in the theory of economic growth, a subfield of modern macroeconomics. In the 1980s...
precision. The AKmodel production function is a special case of a Cobb–Douglas production function: Y = A K a L 1 − a {\displaystyle Y=AK^{a}L^{1-a}\,}...
was a prototype model during the evaluation and development of the Ak 5 in the late 1970s and early 1980s. The first versions of the Ak 5 family were made...
rifles (Russian: Автоматы Калашникова), also known as the AK platform, AK rifles or simply the AK, are a family of selective fire assault rifles based on...
the ratio of capital to labour. In other economic models, for example, the AKmodel or some models in endogenous growth theory, capital deepening can...
which came from the AK-47. Most AKMs with muzzle nuts were older production models. The AKM's slant compensator can also be used on the AK-47, which had a...
end of 2022. Ak 4 test model with green surface treatment Ak 4OR with a Hensoldt 4×24 M1 telescopic sight of the Swedish Home Guard Ak 4B with Aimpoint...
The Chevrolet AK Series was a range of pickup trucks sold under the Chevrolet brand, produced from 1941 through 1947. It used the GM A platform, shared...
theory in optimizing the production and distribution of food. AKmodel A macroeconomic model that explains output through the relationship of total factor...
was taken over and this company's model, a replica of the Ford GT40 , will be offered as the AK 40. The Premier model appeared under the KF brand. This...
Athletic Sport Club'; abbreviated as GAK), better known simply as Grazer AK, is an Austrian sports club based in the city of Graz in the federal state...
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