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Explicit Transitional Dynamics in Growth Models

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  • Danyang Xie

Abstract

Transitional 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.

Suggested Citation

  • Danyang Xie, 2002. "Explicit Transitional Dynamics in Growth Models," GE, Growth, Math methods 0207003, University Library of Munich, Germany.
    • Handle: RePEc:wpa:wuwpge:0207003
    Note: Type of Document - Acrobat PDF; prepared on PC; to print on HP; pages: 24; figures: none
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    References listed on IDEAS

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    More about this item

    Keywords

    Transitional Dynamics; Growth;

    JEL classification:

    • O41 - Economic Development, Innovation, 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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