Exact solutions for a Solow-Swan model with non-constant returns to scale

DOI10.1007/S13226-022-00341-7MaRDI QIDQ6089340zbMATH OpenOpenAlexFDO

Authors N. Cangiotti, Mattia Sensi

Publication date 14 December 2023

Published in Indian Journal of Pure \& Applied Mathematics (Search for Journal in Brave)

Full work available at URL https://arxiv.org/abs/2008.05875

zbMATH Keywords

returns to scaleCobb-Douglas production functionvon Bertalanffy modelSolow-Swan model

Mathematics Subject Classification ID

Qualitative investigation and simulation of ordinary differential equation models (34C60) Fundamental topics (basic mathematics, methodology; applicable to economics in general) (91B02) Economic dynamics (91B55)

Abstract: The Solow-Swan model is shortly reviewed from a mathematical point of view. By considering non-constant returns to scale, we obtain a general solution strategy. We then compute the exact solution for the Cobb-Douglas production function, for both the classical model and the von Bertalanffy model. Numerical simulations are provided.

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Cited in

(5)

• Returns to scale in a spatial solow-swan economic growth model
• Generalized Swanson models and their solutions
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• SOLOW MODELS ON TIME SCALES
• Extended Solow–Swan model for capital and natural resources with the Allee effect

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