Abstract
In this section we derive a hereditary model of gross domestic product, y, and employment L by invoking the “demand and supply principle”, and the “rational expectations hypothesis” which assumes that the expected values of economic variables are functions of the current and past values. Indeed let the aggregate demand function z i be given by
This is a preview of subscription content, log in via an institution.
Buying options
Tax calculation will be finalised at checkout
Purchases are for personal use only
Learn about institutional subscriptionsPreview
Unable to display preview. Download preview PDF.
Bibliography
E. N. Chukwu, Optimal Control of the Growth of Wealth of Natins, Taylor and Trancis, 2003.
E. N. Chukwu, “Differential Models and Neutral Systems for Controlling theWealth of Nations, World scientific, 2001.
E. N. Chukwu, Stability and Time-Optimal Control of Hereditary Systems with Applications to the Economic Dynamics of the USA, 2nd Edition.
O. H´ajek, Pursuit Games, An Introduction to the Theory and Applications of Differential Games of Pursuit and Evasion, Academic Press, New York, 1975.
O. H´ajek, Duality for Differential Games and Optimal Control,” Math. Systems Theory, 8 (1974) 1-7.
Jack Hale, Theory of Functional Differential Equations, Springer-Verlag, New York, 1977.
H. Hermes and J. P. LaSalle, Functional Analysis and Time Optimal Control, Academic Press, New York, 1969.
E. N. Chukwu, Cooperation and Competition in Modeling the Dynamics of Gross Domestic Product of Nations, AMC Elsevier Science, 2004.
K Gopalsamy Stability and Oscillations in Delay Differential Equations of Population Dynamics, Kluwer Academic Publishers, Dordvecht, Boston and London, 1992.
Ethelbert N. Chukwu, Stability and Time-Optimal Control of Systems, Academic Press, 1992, Series Title, Mathematics in Science and Engineering v. 188.
Ethelbert N. Chukwu, Ultimate Boundedness Stability and Controllability of Hereditary Systems, prepared for Langley Research center under grant NSG-1445. Published: 1979 Series Title: (NASA Contractor Report; 3090).
E. N. Chukwu, A Mathematical Treatment of Economic Cooperation and Competition Among Nations with Nigeria, USA, UK, China, and Middle East Examples, Mathematics in Science and Engineering, v. 203, Series Editor C. K. Chui, Elsevier, 2005.
E. N. Chukwu, A Mathematical Treatment of Economic Cooperation and Competition Among Nations with Nigeria, USA, UK, China, and Middle East Examples, Mathematics in Science and Engineering Compact Disc Data Storage, Elsevier 2005. ISBN: 0-444 51859-2.
The Economist Book of VitalWorld Statistics ISBN 0.09-174652-3.
Song Zhong, MathematicsM. Sc. Thesis, Nov. 2, 2003, North Carolina State University, Raleigh,
North Carolina.
Author information
Authors and Affiliations
Rights and permissions
Copyright information
© 2010 Atlantis Press/World Scientific
About this chapter
Cite this chapter
Chukwu, E.N. (2010). The Hereditary Model of GDP and Employment. In: The Omega Problem of all Members of the United Nations. Atlantis Studies in Mathematics for Engineering and Science, vol 6. Atlantis Press. https://doi.org/10.2991/978-94-91216-26-8_7
Download citation
DOI: https://doi.org/10.2991/978-94-91216-26-8_7
Publisher Name: Atlantis Press
Online ISBN: 978-94-91216-26-8
eBook Packages: Mathematics and StatisticsMathematics and Statistics (R0)
