The Dynamic Systems of Basic Economic Growth Models / Edition 1

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Overview

This volume presents a mathematical analysis of cumulative processes of economic growth. In continuous time, the fundamentals of economic growth models are expressed by systems of nonlinear differential equations. With homogeneous dynamic systems as the unifying mathematical framework, the long-run stability properties and the phase portraits of the solutions to classical, neoclassical and Keynesian growth models are analyzed. The general structure and the solutions of two-sector growth models are also treated, with special attention given to output composition and factor allocation issues involved in general equilibrium dynamics. Among other results, this work shows that the dynamic structures and the kinematics of prototype growth models are globally robust.
The monograph is divided in two sections: (1) Basic Economic Growth Models — An Axiomatic Approach; (2) Basic Dynamic Systems.
For scholars in economics and applied mathematics; recommended as a reference book for researchers and as a supplementary graduate textbook in economics and mathematics. A familiarity with calculus, ordinary differential equations, and the basic concepts of linear algebra is assumed.

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Editorial Reviews

Booknews
Assuming a familiarity with calculus, ordinary differential equations, and the basic concepts of linear algebra, this supplementary graduate level text presents a mathematical analysis of the cumulative processes of economic growth. Two central problems in the pure theory of economic growth are analyzed in this monograph: the dynamic laws governing the economic growth processes and the kinematic and geometric properties of the set of solutions to the dynamic systems. Annotation c. Book News, Inc., Portland, OR (booknews.com)
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Product Details

  • ISBN-13: 9780792330912
  • Publisher: Springer Netherlands
  • Publication date: 8/11/1994
  • Series: Mathematics and Its Applications (closed) Series , #302
  • Edition description: 1994
  • Edition number: 1
  • Pages: 356
  • Product dimensions: 0.94 (w) x 9.21 (h) x 6.14 (d)

Table of Contents

Preface. Introduction and Overview. Book I: Basic Economic Growth Models — An Axiomatic Approach. 1. Basic laws of production. Part 1: Basic One-Sector Growth Models. 2. Classical growth models and homogeneity. 3. Classical growth models and minimal factor rewards. 4. Aggregate endogenous growth models. Synopsis of endogenous growth models. 5. Neoclassical growth models. 6. Keynesian growth models. Part 2: Basic Two-sector Growth Models. 7. Leontief technology and efficient factor utilization. 8. Flexible technologies and proportional saving. 9. Flexible technologies and classical saving. Synopsis of two-sector growth models. Final comments. Book II: Basic Dynamic Systems. 10. Homogeneous dynamics in the plane. 11. Linear and affine dynamics in the plane. 12. Quasi-homogeneous dynamics in the plane. 13. Discrete linear dynamics in the plane. Addendum: Growth and long-run stability. Bibliography: Book I. Bibliography: Book II. Index.
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