Closed-Form Solution for a Two-Sector Endogenous Growth Model with two Controls
In this paper we show a method for solving in closed form a particular family of four-dimension non-linear modified Hamiltonian dynamic systems, with two states and two co-states and two co-states, which arises from a two-sector endogenous growth model where the physical capital stock is combined with a renewable natural capital stock as essential inputs for production
|Date of creation:||01 Jun 2002|
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- J. AZNAR-MARQUEZ & J.R. Ruiz-Tamarit, 2002.
"Renewable Natural Resources and Endogenous Growth,"
Discussion Papers (IRES - Institut de Recherches Economiques et Sociales)
2002029, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
- Benhabib Jess & Perli Roberto, 1994. "Uniqueness and Indeterminacy: On the Dynamics of Endogenous Growth," Journal of Economic Theory, Elsevier, vol. 63(1), pages 113-142, June.
- José Ramón Ruiz-Tamarit, . "Multiplicity, Overtaking and Convergence in the Lucas Two-Sector Growth Model," Working Papers 2002-17, FEDEA.
- Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
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