Dynamic Structure, Exogeneity, Phase Portraits, Growth Paths, and Scale and Substitution Elasticities

Autor:	Preben K. Alsholm, Bjarne S. Jensen, Jens Martin Jensen, Mogens Esrom Larsen
Rok vydání:	2005
Předmět:	State variable Returns to scale Scale (ratio) Homogeneity (statistics) Geography Planning and Development Substitution (logic) Per capita Econometrics Economics Production (economics) Endogeneity Development
Zdroj:	Review of International Economics. 13:59-89
ISSN:	1467-9396 0965-7576
DOI:	10.1111/j.1467-9396.2005.00492.x
Popis:	The paper studies autonomous dynamic systems that allow for the existence of economic growth per capita without dynamically generating explosive solutions. The implications of any degree of homogeneity, including increasing returns to scale in production, must be carefully examined in two and higher dimensions. The necessity of introducing some exogenous state variables is demonstrated within homogeneous dynamic systems. The authors solve and demonstrate the dynamic implications of scale and the substitution elasticities in various basic (two-factor) and augmented (multifactor) aggregate growth models.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::f6269f5dc3ccef93546ea241f38f3fb7 https://doi.org/10.1111/j.1467-9396.2005.00492.x Zobrazit plný text záznamu Plný text ve formátu PDF