The optimal solution of the model with physical and human capital adjustment costs.

Autor: Lan-lan, Rao, Dong-han, Cai
Zdroj: Wuhan University Journal of Natural Sciences; Jul2004, Vol. 9 Issue 4, p404-406, 3p
Abstrakt: We prove that the model with physical and human capital adjustment costs has optimal solution when the production function is increasing return and the structure of vetor fields of the model changes substantially when the prodution function from decreasing return turns to increasing return. And it is shown that the economy is improved when the coefficients of adjustment costs become small. [ABSTRACT FROM AUTHOR]
Databáze: Complementary Index
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