scholarly journals Research and development in economic growth models and structural changes

2017 ◽  
Vol 11 (2) ◽  
pp. 55-72
Author(s):  
Marija Mosurovic-Ruzicic ◽  
Nikola Fabris ◽  
Djuro Kutlaca
Keyword(s):  
Economic Growth ◽  
Research And Development ◽  
Structural Changes ◽  
Growth Models ◽  
Economic Growth Models

scholarly journals Equilibria in Altruistic Economic Growth Models

2019 ◽  
Vol 10 (1) ◽  
pp. 1-18
Author(s):  
Łukasz Balbus ◽  
Anna Jaśkiewicz ◽  
Andrzej S. Nowak
Keyword(s):  
Economic Growth ◽  
Growth Models ◽  
Economic Growth Models

scholarly journals In search of a new economic model determined by logistic growth

2019 ◽  
Vol 31 (2) ◽  
pp. 339-368 ◽  
Author(s):  
R. G. SMIRNOV ◽  
K. WANG
Keyword(s):  
Economic Growth ◽  
Group Theory ◽  
Growth Models ◽  
Production Functions ◽  
Perfect Competition ◽  
Logistic Growth ◽  
Economic Data ◽  
Lie Group Theory ◽  
Wage Share ◽  
Economic Growth Models

In this paper, we extend the work by Sato devoted to the development of economic growth models within the framework of the Lie group theory. We propose a new growth model based on the assumption of logistic growth in factors and derive the corresponding production functions, as well as a compatible notion of wage share. In the process, it is shown that the new functions compare reasonably well against relevant economic data. The corresponding problem of maximisation of profit under conditions of perfect competition is solved with the aid of one of these functions. In addition, it is explained in reasonably rigorous mathematical terms why Bowley’s law no longer holds true in the post-1960 data.

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