On the Existence of a Solution to the Optimal Economic Growth in an Aggregative Closed Economy

  • EO Oyatoye
  • MA Ibiejugba

Abstract

The problem of optimal economic growth in an aggregative closed economy
in which the basic equation of economic growth is a differential equation has
been investigated in various ways by different authors in the past. This paper investigates the existence of a solution to the optimal economic growth problem by showing that a solution exists to the set of constraint equations. Essentially, the paper retains all the problem formulation stated in [1, 2] where some theoretical bases leading to the economic growth problem
are laid.

Keywords: Existence of a solution, optimal economic growth, aggregative closed economy, class C of nondecreasing functions.

Published
2013-08-02
Section
Articles

Journal Identifiers


eISSN: 1116-4336