Abstract
A new approach to the construction of macroeconomic growth models is considered. This approach is based on an application of ordinary differential equations to the description of the long-term development for large economic systems. Principles of construction of the original macroeconomic model taking into account a non-stationary endogenous technical progress and non-renewable energy resources depletion influence on the economic growth are described. The analytical properties of the model based on this approach as well as the existence and the behaviour of the solutions of the optimal control problem are investigated.
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Vasiliev, V. (1991). On Some Properties of the Solution of the Optimal Control Problem for the Original Long — Term Macroeconomic Model. In: Gruber, J. (eds) Econometric Decision Models. Lecture Notes in Economics and Mathematical Systems, vol 366. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-51675-7_8
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DOI: https://doi.org/10.1007/978-3-642-51675-7_8
Publisher Name: Springer, Berlin, Heidelberg
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