A simple characterisation for sustained growth
This article considers the problem about conditions ensuring sustained growth, in the generalised case, i.e. where the dynamics of the economy can be characterised as a solution of \[ \max \left [\sum_{s=0}^{\infty}\delta^sV(x_s,x_{s+1})\right ], \] where \(\delta \in (0, 1)\) is the discount factor and \(V\) denotes the payoffs function. Under mild conditions, the following condition is sufficient for characterising sustained growth: \[ V_2(x, x) + \delta V_1(x, x) > 0, \] for every \(x\) large enough. The notations \(V_1(x, y)\) and \(V_2(x, y)\) denote respectively the partial derivatives corresponding to the first and the second arguments. The threshold beyond which the economy converges to infinity is characterised. The conditions, are simple and easy to verify.
- On the Existence of Balanced Growth Equilibrium
- Infinite-horizon continuous-time growth models
- Sustained endogenous growth with decreasing returns and heterogeneous capital
- A necessary and sufficient condition for the positivity of the growth rate in the Neumann-Gale model of economic growth
- On the sensitivity of optimal growth paths
- A complete characterization of optimal growth paths in an aggregated model with a non-concave production function
- A nonsmooth, nonconvex model of optimal growth
- Dynamic optimization in non-convex models with irreversible investment: Monotonicity and turnpike results
- Dynamic optimization on a non-convex feasible set: Some general results for non-smooth technologies
- Dynamic Optimization with a Non-Convex Technology: The Case of a Linear Objective Function
- Dynamic optimization with a nonsmooth, nonconvex technology: the case of a linear objective function
- Dynamic programming in economics.
- Economically optimal policies for the utilization of biologically renewable resources
- scientific article; zbMATH DE number 3126094 (Why is no real title available?)
- scientific article; zbMATH DE number 52448 (Why is no real title available?)
- Monotonicity and continuity of the critical capital stock in the Dechert-Nishimura model
- Optimal growth models with bounded or unbounded returns: A unifying approach
- Optimal Growth with a Convex-Concave Production Function
- Optimal growth with investment enhancing labor
- Saving and dissaving with hyperbolic discounting
- Sensitivity analysis of multisector optimal economic dynamics
- Stochastic optimal growth with nonconvexities
- The sources of growth
- A necessary and sufficient condition for the positivity of the growth rate in the Neumann-Gale model of economic growth
- scientific article; zbMATH DE number 3020140 (Why is no real title available?)
- Fifty years of mathematical growth theory: classical topics and new trends
- Balanced growth and degrowth with human capital
This page was built for publication: A simple characterisation for sustained growth
Report a bug (only for logged in users!)Click here to report a bug for this page (MaRDI item Q2222220)
