A Generalized Solow-Swan Model
Copyright policy )A Generalized Solow-Swan Model
We set up a generalized Solow-Swan model to study the exogenous impact of population, saving rate, technological change, and labor participation rate on economic growth. By introducing generalized exogenous variables into the classical Solow-Swan model, we obtain a nonautomatic differential equation. It is proved that the solution of the differential equation is asymptotically stable if the generalized exogenous variables converge and does not converge when one of the generalized exogenous variables persistently oscillates.
- Wuhan University China (People's Republic of)
Solow-Swan model, Economic growth models, population growth, QA1-939, nonautomatic differential equation, saving rate, Stability of solutions to ordinary differential equations, economic growth, Mathematics
Solow-Swan model, Economic growth models, population growth, QA1-939, nonautomatic differential equation, saving rate, Stability of solutions to ordinary differential equations, economic growth, Mathematics
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