Exact solutions for a Solow-Swan model with non-constant returns to scale
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Publication:6089340
DOI10.1007/S13226-022-00341-7arXiv2008.05875OpenAlexW3122773875MaRDI QIDQ6089340FDOQ6089340
Publication date: 14 December 2023
Published in: Indian Journal of Pure \& Applied Mathematics (Search for Journal in Brave)
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.
Full work available at URL: https://arxiv.org/abs/2008.05875
Qualitative investigation and simulation of ordinary differential equation models (34C60) Fundamental topics (basic mathematics, methodology; applicable to economics in general) (91B02) Economic dynamics (91B55)
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