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来源类型 | Article |
规范类型 | 其他 |
Projection of the Russian economic development in the framework of the optimal control model by investments in fixed assets. | |
Tarasyev AM; Usova AA; Shmotina YV | |
发表日期 | 2014 |
出处 | Economy of Region 3 (2014): 265-273. |
出版年 | 2014 |
语种 | 英语 |
摘要 | In this paper, we develop an economic growth model taking into account two factors of production: fixed capital and labor force, to study the dynamics of GDP growth. The dependence of the output of these factors is described by a production function of the exponential type. Within the framework of the optimal control theory, the optimization problem for investment levels is being solved to maximize the integral index of consumption. We study the qualitative properties of optimal trajectories as solutions of the Hamiltonian systems arising in Pontryagin's maximum principle. The sensitivity analysis of the equilibrium solutions of the economic system is implemented with respect to the elasticity coefficients of the production function, the depreciation rate of the capital, and the discount factor, and growth trends are indicated. The econometric analysis of the model parameters is provided basing on real data for the Russian economy. In accordance with the results of the regression analysis, the projection of economic development is constructed in conditions of the applicability of the economic growth model. |
主题 | Advanced Systems Analysis (ASA) |
URL | http://pure.iiasa.ac.at/id/eprint/10825/ |
来源智库 | International Institute for Applied Systems Analysis (Austria) |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/129927 |
推荐引用方式 GB/T 7714 | Tarasyev AM,Usova AA,Shmotina YV. Projection of the Russian economic development in the framework of the optimal control model by investments in fixed assets.. 2014. |
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