Abstract

ACCINELLI, Elvio  and  BRIDA, Juan Gabriel. Optimum economic growth and population growth: a better Ramsey model version. Pap. poblac [online]. 2006, vol.12, n.47, pp.227-241. ISSN 2448-7147.

Usually standard economic growth theory assumes that population grows exponentially. This hypothesis is realistic only for an initial period, but it can not be valid indefinitely because, population growing exponentially can be arbitrarily large. In this paper we reformulate the Ramsey model of optimal economic growth by substituting the exponential population growth law by the logistic equation. We show that in this case the long run steady states values coincide with those of the original Ramsey model with zero population growth rate and we analyze the stability of the equilibrium.

Keywords : population growth; Ramsey model.

        · abstract in Spanish     · text in Spanish     · Spanish ( pdf )