Comparability of the Neoclassical Economic Growth models: The Ramsey Models in Perspective

Gabriel Obed Fosu, Gideon Gogovi, Justice Appati and Eric Bondzie

MPRA Paper from University Library of Munich, Germany

Abstract: The paper outlined two systems of differential equations: the Ramsey-Cass-Koopmans(RCK) growth model with exponential growth of labour(population) and Ramsey-Cass-Koopmans model with logistic growth rate of labour. The stability properties of these models are outlined in the neighbourhood of the steady state with a set of benchmark parameters. We compare the performance ability of this models in the case of developed and developing countries.

Keywords: Per worker capital; Ramsey-Cass-Koopmans (RCK) model; Stability. (search for similar items in EconPapers)
JEL-codes: C62 D24 (search for similar items in EconPapers)
Date: 2013-11
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Published in International Journal of Engineering & Scientific Research 4.2(2014): pp. 96-104

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:69284

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