Delay two-sector economic growth model with a Cobb–Douglas production function

2021 ◽  
Author(s):  
Akio Matsumoto ◽  
Ferenc Szidarovszky
Keyword(s):  
Economic Growth ◽  
Production Function ◽  
Growth Model ◽  
Economic Growth Model ◽  
Douglas Production Function

scholarly journals MODEL PERTUMBUHAN EKONOMI ANTAR KELOMPOK DAN SIMULASINYA

2009 ◽  
Vol 8 (1) ◽  
pp. 67
Author(s):  
A. L. HERLIANI ◽  
E. H. NUGRAHANI ◽  
D. C. LESMANA
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Production Function ◽  
Growth Model ◽  
The Other ◽  
Distribution Model ◽  
Capital Productivity ◽  
Economic Growth Model ◽  
Total Capital ◽  
Primary Variable

Domar’s economic growth model only considers capital as primary variable for production function. On the other hand, Solow’s economic growth model has added the labor as variable in the production function. The aim of this paper is to study distribution model of economic growth among groups in two regions proposed by Zhang (2005). This model considers human capital productivity as one of parameters of the production function. It has been shown that the dynamical system has a unique equilibrium. Therefore, the changes of human capital and propensity to save will influence total capital stocks and capital stocks in each group. Analytically, it is found that an increase in human capital and propensity to save will increase total capital stocks and capital stocks in each group.

scholarly journals Technology progress implementation based on a modified version of R.M. Solow economic growth model: with production s-curve consisting of n-steps

2021 ◽  
pp. 99-109
Author(s):  
Alexey Lopatin
Keyword(s):  
Economic Growth ◽  
Life Cycle ◽  
Comparative Analysis ◽  
Production Function ◽  
Growth Model ◽  
Technological Progress ◽  
Large Time ◽  
Time Interval ◽  
Economic Growth Model ◽  
S Curve

The comparative analysis of the neoclassical Solow’s model and the modified Solow’s model in the implementation of technological progress has shown undeniable advantages of the modified Solow’s model. A modified version of the Solow’s economic growth model, based on an n-step production function in the form of n S-shaped functions for the implementation of technological progress, ensures the growth of the economy on a sufficiently large time interval comparable to the duration of the life cycle of the economy under study. In this interval, referred to as the “technology gap”, intensive output y (t) can be carried out according to the following options: monotonic decrease (stable 1-cycle) of the considered model; oscillations (stable n-cycles, n=2,4,16,…), “the economy marks time”; chaotic fluctuations. This result for the models of economic growth has not been described in the literature.

Dynamic analysis in an economic growth model with CES utility function and delay

2020 ◽  
Author(s):  
Ramona Ioana Oprea ◽  
Pater Flavius ◽  
Adina Juratoni ◽  
Olivia Bundau
Keyword(s):  
Economic Growth ◽  
Dynamic Analysis ◽  
Utility Function ◽  
Growth Model ◽  
Economic Growth Model ◽  
Ces Utility Function

scholarly journals A Discrete Heterogeneous-Group Economic Growth Model with Endogenous Leisure Time

2009 ◽  
Vol 2009 ◽  
pp. 1-17
Author(s):  
Wei-Bin Zhang
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Income Distribution ◽  
Growth Model ◽  
Time Allocation ◽  
Capital Accumulation ◽  
Economic Growth Model ◽  
National Economic ◽  
The Rich ◽  
Main Engine

This paper proposes a one-sector multigroup growth model with endogenous labor supply in discrete time. Proposing an alternative approach to behavior of households, we examine the dynamics of wealth and income distribution in a competitive economy with capital accumulation as the main engine of economic growth. We show how human capital levels, preferences, and labor force of heterogeneous households determine the national economic growth, wealth, and income distribution and time allocation of the groups. By simulation we demonstrate, for instance, that in the three-group economy when the rich group's human capital is improved, all the groups will economically benefit, and the leisure times of all the groups are reduced but when any other group's human capital is improved, the group will economically benefit, the other two groups economically lose, and the leisure times of all the groups are increased.

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