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Non-linear Dynamics in the Infinite Time Horizon Model

  • Kazuo Nishimura
  • Gerhard Sorger
Chapter

Abstract

There are two important reasons why economic growth theory became (again) a popular field during the last 15 years. The first one is that recently developed growth theoretic models capture more aspects of economic growth than the models used in the fifties and sixties. Nowadays, models of economic growth try to explain technological progress and innovations, whereas the purpose of traditional models was mainly to describe the process of capital accumulation.

Keywords

Discount Factor Optimal Path Topological Entropy Balance Growth Path Dynamic Optimization Problem 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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© Springer-Verlag Berlin Heidelberg 2012

Authors and Affiliations

  1. 1.Institute of Economic ResearchKyoto UniversityKyotoJapan
  2. 2.Department of EconomicsUniversity of ViennaViennaAustria

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