Projects per year
Abstract
Recent research in economic theory attempts to study optimal economic growth
and spatial location of economic activity in a uniÖed framework. So far, the key result of this literature - asymptotic convergence, even in the absence of decreasing returns to capital - relies on speciÖc assumptions about the objective of the social planner. We show that this result does not depend on such restrictive assumptions and obtains for a broader class of objective functions. We also generalize this Önding, allowing for the time-varying technology parameter, and provide an explicit solution for the dynamics of spatial distribution of the capital stock.
and spatial location of economic activity in a uniÖed framework. So far, the key result of this literature - asymptotic convergence, even in the absence of decreasing returns to capital - relies on speciÖc assumptions about the objective of the social planner. We show that this result does not depend on such restrictive assumptions and obtains for a broader class of objective functions. We also generalize this Önding, allowing for the time-varying technology parameter, and provide an explicit solution for the dynamics of spatial distribution of the capital stock.
Original language | English |
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Publisher | Namur center for complex systems |
Number of pages | 16 |
Volume | 3 |
Edition | 14 |
Publication status | Published - 19 Jan 2014 |
Publication series
Name | naXys Technical Report Series |
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Publisher | University of Namur |
No. | 2014 |
Volume | 3 |
Keywords
- Economic Growth
- Convergence
- Spatial Dynamics
- Partial Differential Equations
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Dynamical systems analysis, modeling and simulation
Carletti, T. (CoI), Fuzfa, A. (CoI) & Lemaitre, A. (CoI)
3/10/11 → …
Project: Research
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Socio-economic models of opinion formation
Aldashev, G. (CoI), Carletti, T. (CoI) & RIGHI, S. (Researcher)
1/09/06 → …
Project: PHD
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PAI n°P7/19 - DYSCO: Dynamical systems, control and optimization (DYSCO)
Winkin, J. (CoI), Blondel, V. (PI), Vandewalle, J. (CoI), Pintelon, R. M. (CoI), Sepulchre, R. (CoI), Vande Wouwer, A. (CoI) & Sartenaer, A. (CoI)
1/04/12 → 30/09/17
Project: Research