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Ramsey model with non-constant population growth

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  • Kajanovičová, Viktória
  • Novotný, Branislav
  • Pospíšil, Michal

Abstract

Ramsey model is a neoclassical model of economic growth. It describes the time evolution of capital and consumption in a closed economy with the exponential growth of the population. In this work, the Ramsey model for the general time evolution of the population is formulated and solved. Asymptotic behavior of solutions for different types of population development is investigated. In particular, the model with a population formed by a predator from an independent predator–prey system is solved numerically.

Suggested Citation

  • Kajanovičová, Viktória & Novotný, Branislav & Pospíšil, Michal, 2020. "Ramsey model with non-constant population growth," Mathematical Social Sciences, Elsevier, vol. 104(C), pages 40-46.
    • Handle: RePEc:eee:matsoc:v:104:y:2020:i:c:p:40-46
    DOI: 10.1016/j.mathsocsci.2020.01.004
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    Cited by:

    1. Hellwagner, Timon & Weber, Enzo, 2021. "Labour Market Adjustments to Population Decline," VfS Annual Conference 2021 (Virtual Conference): Climate Economics 242455, Verein für Socialpolitik / German Economic Association.

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