Złote reguły akumulacji w N-kapitałowym modelu wzrostu gospodarczego

• Authors: Paweł Dykas , Anna Sulima , Tomasz Tokarski

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.

Keywords

EN

golden rules of capital accumulation; Edmund S. Phelps; N-capital growth model; production function

• Publisher: Szkoła Główna Handlowa w Warszawie. Kolegium Analiz Ekonomicznych
• Journal: Gospodarka Narodowa. The Polish Journal of Economics
• Year: 2008
• Volume: 228
• Issue: 11-12
• Pages: 47-75

Dates

published

2008-12-31

Contributors

author

Paweł Dykas

author

Anna Sulima

author

Tomasz Tokarski

Identifiers

DOI

10.33119/GN/101310