Population growth and the Solow-Swan model

摘要: One of the key elements in any standard economic growth theory is that population exponential with a constant rate n > 0. This simple model can provide an adequate approximation to such only for initial period because, growing exponentially, approaches infinity when t goes infinity, which clearly unrealistic. The does not accommodate reductions due competition environmental resources as food and habitat. In this paper we reformulate neoclassical Solow by assuming law describing verifies two stylized facts: 1) strictly increasing bounded 2) decreasing zero. main result proof convergence capital per worker value independently condition. coincides steady state original zero rate.