The Dynamic Systems Of Basic Economic Growth Models
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The Dynamic Systems Of Basic Economic Growth Models
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Author : Bjarne S. Jensen
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-02-02
The Dynamic Systems Of Basic Economic Growth Models written by Bjarne S. Jensen and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-02-02 with Mathematics categories.
Two central problems in the pure theory of economic growth are analysed in this monograph: 1) the dynamic laws governing the economic growth processes, 2) the kinematic and geometric properties of the set of solutions to the dynamic systems. With allegiance to rigor and the emphasis on the theoretical fundamentals of prototype mathematical growth models, the treatise is written in the theorem-proof style. To keep the exposition orderly and as smooth as possible, the economic analysis has been separated from the purely mathematical issues, and hence the monograph is organized in two books. Regarding the scope and content of the two books, an "Introduction and Over view" has been prepared to offer both motivation and a brief account. The introduc tion is especially designed to give a recapitulation of the mathematical theory and results presented in Book II, which are used as the unifying mathematical framework in the analysis and exposition of the different economic growth models in Book I. Economists would probably prefer to go directly to Book I and proceed by consult ing the mathematical theorems of Book II in confirming the economic theorems in Book I. Thereby, both the independence and interdependence of the economic and mathematical argumentations are respected.
The Elements And Dynamic Systems Of Economic Growth And Trade Models
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Author : Bjarne S. Jensen
language : en
Publisher: Springer Nature
Release Date : 2025-04-15
The Elements And Dynamic Systems Of Economic Growth And Trade Models written by Bjarne S. Jensen and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2025-04-15 with Business & Economics categories.
This updated and expanded book examines the fundamentals of economic growth models as expressed by dynamic systems of nonlinear differential equations. With homogeneous dynamic systems as the unifying mathematical framework, the time paths and long-run stability properties of the solutions to classical, neoclassical, and modern macroeconomic growth models are analyzed. The general structure and solutions of two-sector and multi-sector growth models are also explored, with special attention given to the evolution of output compositions and sectoral factor allocations involved in Walrasian general equilibrium dynamics. Ramsey optimal growth (saving) models with variable intertemporal substitution (non-homothetic utility) are discussed to demonstrate the ability to generate a realistic historically observed evolution of economic per capita growth rates and saving rates. The book aims to highlight how basic economic growth models can be extended widely, including international trading economies, world market prices, commodity trade patterns, and issues related to globalization, migrations, and international factor movements. It will be relevant to students and researchers interested in economic growth and trade policy.
Modeling Dynamic Economic Systems
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Author : Matthias Ruth
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-02-09
Modeling Dynamic Economic Systems written by Matthias Ruth and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-02-09 with Business & Economics categories.
This book explores the dynamic processes in economic systems, concentrating on the extraction and use of the natural resources required to meet economic needs. Sections cover methods for dynamic modeling in economics, microeconomic models of firms, modeling optimal use of both nonrenewable and renewable resources, and chaos in economic models. This book does not require a substantial background in mathematics or computer science.
Economic Dynamics
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Author : Wei-Bin Zhang
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Economic Dynamics written by Wei-Bin Zhang and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
The theory of economic development is a branch of economic dynamics. Any discussion of the theory must involve dynamics even though not all dynamic problems are necessarily related to economic development. The theory's primary locus is upon the nice paths of economic variables. Stationary states, which have been the main concern of modem economic development theory, are actually special cases of economic dynamics. In this study, we propose an economic development theory within the framework of input-output systems and neoclassical economics. No political problems will be dealt with, although this does not mean that questions such as why Japan had a higher growth rate than China in the past are not important. Similarly, rather than dealing with the psychological and institutional aspects of in economic development processes we only suggest ways (or methods, as Hicks would call them) for analyzing what determines economic development from the point of view of "pure" economics. Our main contribution to economic growth theory is that we investigate various nonlinear dynamic phenomena such as bifurcations and economic cycles. We emphasize that oscillations and structural changes are not rare but universal in a progressive economy. No economic system can be stabilized forever if change is permitted.
Dynamics Economic Growth And International Trade
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Author : Bjarne Sloth Jensen
language : en
Publisher: University of Michigan Press
Release Date : 2010-03-11
Dynamics Economic Growth And International Trade written by Bjarne Sloth Jensen and has been published by University of Michigan Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-03-11 with Business & Economics categories.
While endogenous growth theory has claimed success in modeling various factors of growth and providing an analysis of sustainable economic growth, most of the growth models in published work are for closed economies. The omission of international trade, which is often regarded as the engine of growth, greatly reduces their usefulness. The theory of international trade, on the other hand, is characterized by models that are mainly static. While interest in the dynamics of trade has been growing, there is still little work in this area. The success of the newly industrialized economies that have adopted trade-oriented policies suggests how limited present trade theory is in explaining and analyzing the growth of these economies. The work collected here serves to bridge the "old" growth theory and "new" growth theory; merge growth and trade theory; suggest new analysis and techniques of economic growth; and provide analysis of new issues related to growth and trade. The first chapter surveys endogenous growth and international trade and critically reviews the endogenous growth theory with a unified framework, covering the work on both closed and open economies. Three chapters examine the dynamics of some basic trade models; two chapters focus on growth and trade with endogenous accumulation of human and public capital; two chapters on economic growth, technological progress, and international trade; and two chapters on growth and international factor movements. Contributors include Eric W. Bond, Theo S. Eicher, Rolf Färe, Oded Galor, Shawna Grosskopf, Bjarne S. Jensen, Pantelis Kalaitzidakis, Shoukang Lin, Ngo Van Long, Kazuo Nishimura, Koji Shimomura, Kathleen Trask, Stephen J. Turnovsky, Pham Hoang Van, Henry Wan, Jr., Chunyan Wang, and Kar-yiu Wong. Bjarne S. Jensen is Associate Professor of Economics, Copenhagen Business School. Kar-yiu Wong is Professor of Economics, University of Washington, Seattle.
The Dynamic Systems Of Basic Economic Growth Models
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Author : Bjarne S. Jensen
language : en
Publisher: Springer Science & Business Media
Release Date : 1994-08-31
The Dynamic Systems Of Basic Economic Growth Models written by Bjarne S. Jensen and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994-08-31 with Mathematics categories.
Two central problems in the pure theory of economic growth are analysed in this monograph: 1) the dynamic laws governing the economic growth processes, 2) the kinematic and geometric properties of the set of solutions to the dynamic systems. With allegiance to rigor and the emphasis on the theoretical fundamentals of prototype mathematical growth models, the treatise is written in the theorem-proof style. To keep the exposition orderly and as smooth as possible, the economic analysis has been separated from the purely mathematical issues, and hence the monograph is organized in two books. Regarding the scope and content of the two books, an "Introduction and Over view" has been prepared to offer both motivation and a brief account. The introduc tion is especially designed to give a recapitulation of the mathematical theory and results presented in Book II, which are used as the unifying mathematical framework in the analysis and exposition of the different economic growth models in Book I. Economists would probably prefer to go directly to Book I and proceed by consult ing the mathematical theorems of Book II in confirming the economic theorems in Book I. Thereby, both the independence and interdependence of the economic and mathematical argumentations are respected.
Stochastic Economic Dynamics
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Author : Bjarne S. Jensen
language : en
Publisher: Copenhagen Business School Press DK
Release Date : 2007
Stochastic Economic Dynamics written by Bjarne S. Jensen and has been published by Copenhagen Business School Press DK this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Business & Economics categories.
This book analyses stochastic dynamic systems across a broad spectrum in economics and finance. The major unifying theme is the coherent and rigorous treatment of uncertainty and its implications for describing stochastic processes by the stochastic differential equations of the fundamental models in various fields. Pertinent subjects are interrelated, juxtaposed, and examined for consistency in theoretical and empirical contexts. The volume consists of three parts: Developments in Stochastic Dynamics; Stochastic Dynamics in Basic Economic Growth Models; Intertemporal Optimisation in Consumption, Finance, and Growth. Key topics include: fractional Brownian motion in finance; moment evolution of Gaussian and geometric Wiener diffusions; stochastic kinematics and stochastic mechanics; stochastic growth in continuous time; time delays and Hopf bifurcation; consumption and investment strategies; differential systems in finance and life insurance; uncertainty of technological innovations; investment and employment cycles; stochastic control theory; and risk aversion. The works collected in this book serves to bridge the "old" deterministic dynamics and the "new" stochastic dynamics. The collection is important for scholars and advanced graduate students of economics, statistics, and applied mathematics.
Dynamic Systems Economic Growth And The Environment
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Author : Jesús Crespo Cuaresma
language : en
Publisher: Springer Science & Business Media
Release Date : 2009-10-20
Dynamic Systems Economic Growth And The Environment written by Jesús Crespo Cuaresma and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-10-20 with Business & Economics categories.
The major goal of the book is to create an environment for matching different d- ciplinary approaches to studying economic growth. This goal is implemented on the basis of results of the Symposium “Applications of Dynamic Systems to E- nomic Growth with Environment” which was held at the International Institute for Applied Systems Analysis (IIASA) on the 7th–8th of November, 2008, within the IIASA Project “Driving Forces of Economic Growth” (ECG). The symposium was organized by coordinators of the ECG project: Jesus Crespo-Cuaresma from IIASA World Population Program, and Tapio Palokangas and Alexander Tarasyev from IIASA Dynamic Systems Program. The book addresses the issues of sustainability of economic growth in a cha- ing environment, global warming and exhausting energy resources, technological change, and also focuses on explanations of signi?cant ?uctuations in countries’ growth rates. The chapters focus on the analysis of historical economic growth - periences in relation to environmental policy, technological change, development of transport infrastructure, population issues and environmental mortality. The book is written in a popular-science style, accessible to any intelligent lay reader. The prime audience for the book is economists, mathematicians and en- neersworkingonproblemsofeconomicgrowthandenvironment.Themathematical part of the book is presented in a rigorous manner, and the detailed analysis is - pected to be of interest to specialists in optimal control and applications to economic modeling. The book consists of four interrelated parts.
Economic Growth And Development
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Author : Olivier La Grandville
language : en
Publisher: Emerald Group Publishing
Release Date : 2011-12-12
Economic Growth And Development written by Olivier La Grandville and has been published by Emerald Group Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-12-12 with Business & Economics categories.
Since the very beginnings of economics as a science, which might be dated from Ibn Khaldun's "Introduction to History" (1377), the challenge of making societies escape from poverty and attain some degree of prosperity has always been, and can remain, a fundamental issue. This book presents research on each of these issues.
Economic Growth
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Author : Olivier de la Grandville
language : en
Publisher: Cambridge University Press
Release Date : 2009-06-25
Economic Growth written by Olivier de la Grandville and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-06-25 with Business & Economics categories.
A fascinating introduction to the theory of economic growth that unifies the descriptive and normative strands of growth theory.