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Fifty years of mathematical growth theory: Classical topics and new trends

Author

Listed:
  • Emmanuelle Augeraud-Veron

    (GRETHA, University of Bordeaux, FR)

  • Raouf Boucekkine

    (CUT, Rennes School of Business, FR)

  • Fausto Gozzi

    (LUISS Guido Carli, Rome, IT)

  • Alain Vendetti

    (Aix-Marseille University, CNRS, AMSE, Marseille, FR)

  • Benteng Zou

    (DEM, Université du Luxembourg)

Abstract

We present an overview of selected contributions of the Journal of Mathematical Economics' authors to growth theory in the last half century. We start with the classical optimal growth theory within a benchmark multisector model and outline the successive developments in the analysis of this model, including the turnpike theory. Different refinements of the benchmark are considered along the way. We then survey the abundant literature on endogenous uctuations in two sector models. We conclude with two strong trends in the recent growth literature: green growth and infinite-dimensional growth models.

Suggested Citation

  • Emmanuelle Augeraud-Veron & Raouf Boucekkine & Fausto Gozzi & Alain Vendetti & Benteng Zou, 2024. "Fifty years of mathematical growth theory: Classical topics and new trends," DEM Discussion Paper Series 24-02, Department of Economics at the University of Luxembourg.
    • Handle: RePEc:luc:wpaper:24-02
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    File URL: https://hdl.handle.net/10993/60450
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    References listed on IDEAS

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    1. W. Davis Dechert & Kazuo Nishimura, 2012. "A Complete Characterization of Optimal Growth Paths in an Aggregated Model with a Non-Concave Production Function," Springer Books, in: John Stachurski & Alain Venditti & Makoto Yano (ed.), Nonlinear Dynamics in Equilibrium Models, edition 127, chapter 0, pages 237-257, Springer.
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    More about this item

    Keywords

    Growth theory; multisector models; turnpike theory; green growth; infinite-dimensional growth models; optimization.;
    All these keywords.

    JEL classification:

    • C60 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - General
    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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