Balanced and Cyclical Growth in Models of Decentralized Economy

  • Alexander P.¬†Abramov

Part of the Lecture Notes in Economics and Mathematical Systems book series (LNE, volume 672)

Table of contents

  1. Front Matter
    Pages i-xii
  2. Alexander P. Abramov
    Pages 1-6
  3. Alexander P. Abramov
    Pages 7-40
  4. Alexander P. Abramov
    Pages 41-79
  5. Alexander P. Abramov
    Pages 81-98
  6. Alexander P. Abramov
    Pages 99-118
  7. Alexander P. Abramov
    Pages 141-168
  8. Alexander P. Abramov
    Pages 169-179
  9. Back Matter
    Pages 181-194

About this book

Introduction

This book is devoted to the study of dynamical models of decentralized economic systems. The models considered are based on the Leontief simple dynamic model with various mechanisms for decentralized planning and management. Branches of the economic system are treated as fully independent economic agents that plan their work according to their own purposes. It is shown that the lack of coordination between economic agents leads to a limit cycle for some economic indicators. Conversely, the exchange of information between the economic agents enables a move toward balanced growth. These results are generalized for the model with dynamics of the productive assets and for the model with the final consumption. The analysis also considers a problem of endogenous technological progress in a decentralized economy. The appendix includes a short review of non-negative matrices. The book offers a valuable resource for mathematical economists and graduate students specializing in mathematical economics.

Keywords

Balanced Growth Cyclical Growth Decentralized Economy Technological Progress

Authors and affiliations

  • Alexander P.¬†Abramov
    • 1
  1. 1.Dorodnicyn Computing Centre of RASRussian Academy of SciencesMoscowRussia

Bibliographic information

  • DOI https://doi.org/10.1007/978-3-319-07917-2
  • Copyright Information Springer International Publishing Switzerland 2014
  • Publisher Name Springer, Cham
  • eBook Packages Business and Economics
  • Print ISBN 978-3-319-07916-5
  • Online ISBN 978-3-319-07917-2
  • Series Print ISSN 0075-8442
  • Series Online ISSN 2196-9957
  • About this book