Balanced-growth equilibrium
- Balanced-growth equilibrium
In the standard exogenous growth model the type of equilibrium studied is a balanced-growth equilibrium. In the balanced-growth equilibrium the capital intensity of the economy—its capital stockdivided by its total output—is constant. However, other variables like the capital stock, real GDP, and output per worker are growing.
References
*Delong, Brad., " [http://www.j-bradford-delong.net/macro_online/gt_primer.pdf Growth: An Introduction] ", "Lecture Notes"
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