Accession Number : AD0696572
Title : PROJECTIVE METRICS AND ECONOMIC GROWTH MODELS,
Corporate Author : RAND CORP SANTA MONICA CALIF
Personal Author(s) : Keeler,Emmett B.
Report Date : SEP 1969
Pagination or Media Count : 140
Abstract : The paper presents a newly developed mathematical approach that permits technological change to be incorporated into models of economic growth. A detailed investigation is made of certain economic models and their long-term behavior in an effort to illuminate the connections between mathematical assumptions of growth models and current economic realities. The projective quasi-metric method is used to develop a new proof of the Samuelson-Solow theorem on nonlinear balanced growth. The result of this proof is then used to prove the Morishima turnpike theorem; 'twisted' turnpikes are also treated. The major results can be applied to models of income propagation when there are nonlinear propensities to spend. Extensions are made to models with an infinite number of goods.
Descriptors : (*ECONOMICS, MATHEMATICAL MODELS), MATHEMATICAL PREDICTION, INDUSTRIAL PRODUCTION, COSTS, COMMERCE, NONLINEAR SYSTEMS, MONEY
Subject Categories : Economics and Cost Analysis
Distribution Statement : APPROVED FOR PUBLIC RELEASE