Economics and Business Review

ISSN 2392-1641
e-ISSN 2450-0097

Poznań University of Economics - Poland

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Volume 10 Number 1 pp. 41-61

Emil Panek

Pozna&#
3

2

4
; University of Economics, Poland

Optimal paths in the endogenous AK class growth models

Abstract: The AK class models are simple visions of economic dynamics, where production level is determined by quantity of physical capital at economy's disposal and efficiency of its usage in the process of production. One assumes implicitly that technological conditions unambiguously define the level of technical endowment of labor (the ratio of capital to labor) and labor resources are so abundant that they serve any quantity of capital. In the paper we show that even in such simple aggregated models of economic dynamics, where an endogenous growth mechanism of capital efficiency works (due to investments and innovations by R&D), it is possible to achieve social welfare, measured by production and consumption p.c., which is not attainable on the grounds of the neoclassical growth model. (original abstract)
pub/2010_1_41.pdf Full text available in in Adobe Acrobat format:
http://www.ebr.edu.pl/volume10/issue1/2010_1_41.pdf
Keywords: Growth model, Human capital, Economic growth, Modele wzrostu, Kapitał ludzki, Wzrost gospodarczy

For citation:

MLA Panek, Emil. "Optimal paths in the endogenous AK class growth models." Economics and Business Review EBR 10.1 (): 41-61.
APA , (). Optimal paths in the endogenous AK class growth models. Economics and Business Review EBR 10(1), 41-61
ISO 690 PANEK, Emil. Optimal paths in the endogenous AK class growth models. Economics and Business Review EBR, , 10.1: 41-61.