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Exact solutions for a Solow-Swan model with non-constant returns to scale

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  • Nicol`o Cangiotti
  • Mattia Sensi

Abstract

The Solow-Swan model is shortly reviewed from a mathematical point of view. By considering non-constant returns to scale, we obtain a general solution strategy. We then compute the exact solution for the Cobb-Douglas production function, for both the classical model and the von Bertalanffy model. Numerical simulations are provided.

Suggested Citation

  • Nicol`o Cangiotti & Mattia Sensi, 2020. "Exact solutions for a Solow-Swan model with non-constant returns to scale," Papers 2008.05875, arXiv.org.
    • Handle: RePEc:arx:papers:2008.05875
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    1. Bajo-Rubio, Oscar, 2000. "A further generalization of the Solow growth model: the role of the public sector," Economics Letters, Elsevier, vol. 68(1), pages 79-84, July.
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    3. Verena Halsmayer, 2014. "From Exploratory Modeling to Technical Expertise: Solow’s Growth Model as a Multipurpose Design," History of Political Economy, Duke University Press, vol. 46(5), pages 229-251, Supplemen.
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    5. Guerrini, Luca, 2006. "The Solow-Swan model with a bounded population growth rate," Journal of Mathematical Economics, Elsevier, vol. 42(1), pages 14-21, February.
    6. Barelli, Paulo & de Abreu Pessoa, Samuel, 2003. "Inada conditions imply that production function must be asymptotically Cobb-Douglas," Economics Letters, Elsevier, vol. 81(3), pages 361-363, December.
    7. T. W. Swan, 1956. "ECONOMIC GROWTH and CAPITAL ACCUMULATION," The Economic Record, The Economic Society of Australia, vol. 32(2), pages 334-361, November.
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