The Generalized Model of Economic Growth with Human Capital Accumulation
In this paper we proposed and study the generalized model of economic growth with human capital accumulation. The existence of a balanced growth path (BGP, the trajectory with constant growth rates of all variables) can be proved for the model. The paper identifies the conditions of existence and some qualitative features of the paths. The study of the BGP qualitative features, as well as the detailed study of the structure of the phase space in a neighborhood of a steady-state for the set of parameters which are typical for the developed economies, were carried out using numerical and analytical methods with MatLab.
|Date of creation:||Sep 2011|
|Date of revision:|
|Contact details of provider:|| Postal: Niels Bohrs Vej 9, 6700 Esbjerg|
Phone: +45 6550 2233
Fax: +45 6550 1090
Web page: http://degit.sam.sdu.dk/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
- Xie Danyang, 1994.
"Divergence in Economic Performance: Transitional Dynamics with Multiple Equilibria,"
Journal of Economic Theory,
Elsevier, vol. 63(1), pages 97-112, June.
- Danyang Xie, 2002. "Divergence in Economic Performance: Transitional Dynamics with Multiple Equilibria," GE, Growth, Math methods 0210002, EconWPA.
- Casey B. Mulligan & Xavier Sala-i-Martin, 1993. "Transitional Dynamics in Two-Sector Models of Endogenous Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 108(3), pages 739-773.
- Gong, Gang & Greiner, Alfred & Semmler, Willi, 2004. "The Uzawa-Lucas model without scale effects: theory and empirical evidence," Structural Change and Economic Dynamics, Elsevier, vol. 15(4), pages 401-420, December.
- 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.
When requesting a correction, please mention this item's handle: RePEc:deg:conpap:c016_050. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jan Pedersen)
If references are entirely missing, you can add them using this form.