The Harrod-Domar model, a predecessor of the Solow model, also known as theAKmodel, uses what one might consider an extreme version of the Cobb-Douglas production function in which capital's share of income is 1. Is this just a special case of the Solow model? Does the Harrod-Domar model imply conditional convergence like the Solow model? Explain.

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Answer While the HarrodDomar model shares similarities with the Solow model its not merely a special ... View the full answer