The Dynamic Systems of Basic Economic Growth Models

1. Front Matter

   Pages i-xii

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2. Introduction and Overview

   1. Front Matter

      Pages 17-17

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   2. Introduction and Overview

      • Bjarne S. Jensen

      Pages 1-16

3. Basic Economic Growth Models — An Axiomatic Approach

   1. Front Matter

      Pages 31-31

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   2. Basic laws of production

      • Bjarne S. Jensen

      Pages 19-30

   3. Basic One-Sector Growth Models

      1. Classical growth models and homogeneity

         • Bjarne S. Jensen

         Pages 33-56

      2. Classical growth models and minimal factor rewards

         • Bjarne S. Jensen

         Pages 57-66

      3. Aggregate endogenous growth models

         • Bjarne S. Jensen

         Pages 67-72

      4. Synopsis of endogenous growth models

         • Bjarne S. Jensen

         Pages 73-74

      5. Neoclassical growth models

         • Bjarne S. Jensen

         Pages 75-88

      6. Keynesian growth models

         • Bjarne S. Jensen

         Pages 89-98

   4. Basic Two-Sector Growth Models

      1. Leontief technology and efficient factor utilization

         • Bjarne S. Jensen

         Pages 101-122

      2. Flexible technologies and proportional saving

         • Bjarne S. Jensen

         Pages 123-141

      3. Flexible technologies and classical saving

         • Bjarne S. Jensen

         Pages 142-154

      4. Synopsis of two-sector growth models

         • Bjarne S. Jensen

         Pages 155-157

      5. Final comments

         • Bjarne S. Jensen

         Pages 159-159

4. Basic Dynamic Systems

   1. Front Matter

      Pages 161-161

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   2. Homogeneous Dynamics in the Plane

      • Bjarne S. Jensen

      Pages 163-209

   3. Linear and Affine Dynamics in the Plane

      • Bjarne S. Jensen

      Pages 211-258

   4. Quasi-Homogeneous Dynamics in the Plane

      • Peter Gross, Bjarne Sloth Jensen

      Pages 259-275

Two central problems in the pure theory of economic growth are analysed in this monograph: 1) the dynamic laws governing the economic growth processes, 2) the kinematic and geometric properties of the set of solutions to the dynamic systems. With allegiance to rigor and the emphasis on the theoretical fundamentals of prototype mathematical growth models, the treatise is written in the theorem-proof style. To keep the exposition orderly and as smooth as possible, the economic analysis has been separated from the purely mathematical issues, and hence the monograph is organized in two books. Regarding the scope and content of the two books, an "Introduction and Over­ view" has been prepared to offer both motivation and a brief account. The introduc­ tion is especially designed to give a recapitulation of the mathematical theory and results presented in Book II, which are used as the unifying mathematical framework in the analysis and exposition of the different economic growth models in Book I. Economists would probably prefer to go directly to Book I and proceed by consult­ ing the mathematical theorems of Book II in confirming the economic theorems in Book I. Thereby, both the independence and interdependence of the economic and mathematical argumentations are respected.

• Keynes
• calculus
• economic growth
• growth
• growth model
• linear algebra
• production
• ordinary differential equations

• Copenhagen Business School, Copenhagen, Denmark

  Bjarne S. Jensen

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