Explicit Transitional Dynamics in Growth Models
AbstractTransitional dynamics in growth models have been subject to much attention recently. With a few exceptions, existing studies rely on computational techniques. This paper uses a set of examples to illustrate that qualitative insights on the transitional dynamics can be gained at the expense of using special utility-production pairs. In continuous time framework, necessary and sufficient conditions are established for a utility-production pair to yield explicit dynamics. These conditions are potentially useful for applications in other dynamic settings.
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Bibliographic InfoPaper provided by EconWPA in its series GE, Growth, Math methods with number 0207003.
Length: 24 pages
Date of creation: 21 Aug 2002
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Transitional Dynamics; Growth;
Find related papers by JEL classification:
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
- C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
- E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
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