| THE OPTIMAL ALLOCATION ABOUT CAPITAL AND LABOR IN THE ECONOMIC GROWTH WITH AN ENDOGENOUS TECHNICAL PROGRESS MODEL |
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| 作者姓名： | 刘金山 李楚霖 胡适耕 |
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| 作者单位： | Liu Jinshan Li Chulin Hu ShigengDepartment of Mathematics，Huazhong University of Science and Technology，Wuhan 430074，China |
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| 摘 要： | In this paper, the balanced economic growth path was considered in a new growth model with endogenous technical progress. It is not only obtained the optimal allocation about capital and labor between a goods-producing sector and a R&D Sector, but also the optimal value of saving rates. By discussing the effect of parameters, it are also got the following results: When the rate of time preference (discount factor) rising, the fractions of Capital and labor in the goods-producing sector will increase , the fractions in R&D sector and the saving rates will decrease; When the population grows rapidly, the result will be contrary.
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THE OPTIMAL ALLOCATION ABOUT CAPITAL AND LABOR IN THE ECONOMIC GROWTH WITH AN ENDOGENOUS TECHNICAL PROGRESS MODEL |
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| Liu Jinshan,Li Chulin,Hu Shigeng.THE OPTIMAL ALLOCATION ABOUT CAPITAL AND LABOR IN THE ECONOMIC GROWTH WITH AN ENDOGENOUS TECHNICAL PROGRESS MODEL[J].Acta Mathematica Scientia,2002,22(4). |
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| Authors: | Liu Jinshan Li Chulin Hu Shigeng |
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| Institution: | Liu Jinshan Li Chulin Hu ShigengDepartment of Mathematics,Huazhong University of Science and Technology,Wuhan 430074,China |
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| Abstract: | In this paper, the balanced economic growth path was considered in a new growth model with endogenous technical progress. It is not only obtained the optimal allocation about capital and labor between a goods-producing sector and a R&D Sector, but also the optimal value of saving rates. By discussing the effect of parameters, it are also got the following results: When the rate of time preference (discount factor) rising, the fractions of Capital and labor in the goods-producing sector will increase , the fractions in R&D sector and the saving rates will decrease; When the population grows rapidly, the result will be contrary. |
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| Keywords: | Utility function balanced growth path endogenous technical progress |
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