Journal of Dynamics and Games (JDG)

A Malthus-Swan-Solow model of economic growth

Pages: 225 - 230, Volume 3, Issue 3, July 2016      doi:10.3934/jdg.2016012

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Luis C. Corchón - Departmento de Economía, Universidad Carlos III de Madrid, Calle Madrid, 126, 28903 Getafe (Madrid), Spain (email)

Abstract: In this paper we introduce in the Solow-Swan growth model a labor supply based on Malthusian ideas. We show that this model may yield several steady states and that an increase in total factor productivity might decrease the capital-labor ratio in a stable equilibrium.

Keywords:  Malthus, Solow, growth, population.
Mathematics Subject Classification:  37N40.

Received: November 2015;      Revised: February 2016;      Available Online: July 2016.