PL EN


2008 | 228 | 11-12 | 47-75
Article title

Złote reguły akumulacji w N-kapitałowym modelu wzrostu gospodarczego

Content
Title variants
EN
The Golden Rules of Accumulation Under the N-Capital Economic Growth Model
Languages of publication
PL
Abstracts
EN
The paper aims to theoretically determine the golden rules of capital accumulation-as defined by American economist Edmund S. Phelps-under the “N-capital” economic growth model based on a uniform macroeconomic production function, Ξ>0. With Ξ=1, the macroeconomic production function discussed in the paper is characterized by constant scale effects (as in the case of neoclassical growth models developed by Solow, Mankiw, Romer, Weil, Nonneman, and Vanhoudt), the authors say, while with Ξ<1/Ξ>1 the scale effects of the production process decrease/increase. The authors show that the growth model analyzed in the paper is characterized by asymptotic stability in a certain environment. The authors also examine the long-run growth paths of basic macroeconomic variables in the analyzed model and identify the golden rules of capital accumulation under the N-capital growth model when the production process leads to scale effects.
Year
Volume
228
Issue
Pages
47-75
Physical description
Dates
published
2008-12-31
Contributors
References
Document Type
Publication order reference
Identifiers
YADDA identifier
bwmeta1.element.doi-10_33119_GN_101310
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