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Optimal Growth with a Convex-Concave Production Function
A. K. Skiba
Vol. 46, No. 3 (May, 1978), pp. 527-539
Published by: The Econometric Society
Stable URL: http://www.jstor.org/stable/1914229
Page Count: 13
You can always find the topics here!Topics: Trajectories, Production functions, Capital investments, Economic systems, Economic capital, Economic growth models, Capital accumulation, Economic growth theories, Financial investments, Necessary conditions for optimality
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The classical one-sector problem of optimal growth theory over an infinite horizon in continuous times with a convex-concave production function is studied. Consumption and investment are subject to the inequality phase constraint. The basic instrument is a theory of optimal control. Results of the qualitive analysis are presented on the phase diagram.
Econometrica © 1978 The Econometric Society