On the Dynamics of Knowledge-Based Economic Growth

被引：0
|
作者：
Y. Tsur
A. Zemel
机构：
[1] Hebrew University of Jerusalem,Department of Agricultural Economics and Management
[2] Ben Gurion University of the Negev,Department of Solar Energy and Environmental Physics, Jacob Blaustein Institutes for Desert Research
[3] Ben Gurion University of the Negev,Department of Industrial Engineering and Management
来源：
Journal of Optimization Theory and Applications | 2007年 / 135卷
关键词：
Optimal control; Economic growth; Human capital; Turnpikes; Bifurcations; Overshooting;
D O I：
暂无
中图分类号：
学科分类号：
摘要：
A geometric approach to characterize the solutions of higher-dimensional dynamic optimization problems is applied to a model of knowledge-based economic growth. The characterization reveals a variety of growth patterns, ranging from sustained growth to stagnation. Growth processes exhibit a turnpike property, reaching as rapidly as possible the path along which human and physical capital are equally productive at the margin and evolving along it thereafter. Some growth processes display overshooting behavior and some are sensitive to threshold capital stocks.
引用
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页码：101 / 115
页数：14
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