Projective Metrics and Economic Growth Models.
ResearchPublished 1969
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. Following a survey of the standard growth models and a discussion of the economic plausibility, 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 obtain a new and complete proof of 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. 140 pp. Ref. (KB)
Document Details
- Copyright: RAND Corporation
- Availability: Available
- Year: 1969
- Print Format: Paperback
- Paperback Pages: 140
- Paperback Price: $35.00
- Document Number: RM-6153-PR
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Keeler, Emmett B., Projective Metrics and Economic Growth Models. RAND Corporation, RM-6153-PR, 1969. As of October 10, 2024: https://www.rand.org/pubs/research_memoranda/RM6153.html
Keeler, Emmett B., Projective Metrics and Economic Growth Models. Santa Monica, CA: RAND Corporation, 1969. https://www.rand.org/pubs/research_memoranda/RM6153.html. Also available in print form.
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