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
【上篇论文】: 外军国防科技报告 - Violation of the Rights of the Children of the Street of Lubumbashi and Kipushi in the Province of Upper Katanga, Democratic Republic of the Congo
【下篇论文】: 外军国防科技报告 - Analysis of Hole Cleaning for a Vertical Well
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