Comparability of the Neoclassical Economic Growth models: The Ramsey Models in Perspective

Fosu, Gabriel Obed and Gogovi, Gideon and Appati, Justice and Bondzie, Eric Amoo (2013): Comparability of the Neoclassical Economic Growth models: The Ramsey Models in Perspective. Published in: International Journal of Engineering & Scientific Research , Vol. 2, No. 4 (April 2014): pp. 96-104.

Abstract

The paper outlined two systems of differential equations: the Ramsey-Cass-Koopmans(RCK) growth model with exponential growth of labour(population) and Ramsey-Cass-Koopmans model with logistic growth rate of labour. The stability properties of these models are outlined in the neighbourhood of the steady state with a set of benchmark parameters. We compare the performance ability of this models in the case of developed and developing countries.

• Item Type: MPRA Paper
• Language: English
• Keywords: Per worker capital, Ramsey-Cass-Koopmans (RCK) model, Stability.
• Subjects: C - Mathematical and Quantitative Methods > C6 - Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling > C62 - Existence and Stability Conditions of Equilibrium; D - Microeconomics > D2 - Production and Organizations > D24 - Production ; Cost ; Capital ; Capital, Total Factor, and Multifactor Productivity ; Capacity

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