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A Kind of Neither Keynesian Nor Neoclassical Model (6): The Ending State of Economic Growth


In traditionalmacroeconomics argues that thedecision and fluctuation of output level is short-term theory, and the growth of output is along-term theory. The former is determined by the demand; the latter isdetermined by the production. No onehas questioned why the former is determined by production and the latter isdetermined by demand. Thispaper argues that the factors that affect the output are the same in the shortand long term, but there is no need to analyze the problem of fluctuation inthe long term. Based on the analysis ofthe growth path in our previous paper, this paper first examines whether, ourmodel is applicable to the Pontryagin maximum principle, and then analyzes thedifference of the Cobb-Douglas function in the exogenous growth model and theendogenous growth model. Reveal the special role of parameter , in Cobb-Douglas function: as long as , is considered as output-relatedvariables, there is no substantial difference between the so-called exogenousmodel and endogenous......

【作者名称】: Ming’an Zhan, Zhan Zhan
【关 键 词】: Cobb-Douglas Function, Dynamic Optimization, Exogenous Growth, Endogenous Growth, Open Access Library
【网站名称】: OALIB数据库
【期刊论文数据库】: [DBS_Articles_01]
【期刊论文编号】: 103,633,816
【摘要长度】: 1,000
【栏目名称】: 所有文件
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