This paper develops a model of economic growth designed to provide framework for optimal allocation of resources such as labour, capital and public consumption services. The resorces are assumed to be the result of savings over a time interval (O, T). The savings come from two sources : depreciation allowances and household savings. Mathematically the problem is characterized by a nonlinear dynamie system. The objective of the system is to maxirnize the net national product over (O, T). The problem possesses a unique global optimal solution expressible in exogenous variables. An extension of the model is possible which provides a framework for dealing with optimal selection of prices and deterrnining the optima! level of savings, satisfying dernands of production for resources.
Operational Program Digital Poland, 2014-2020, Measure 2.3: Digital accessibility and usefulness of public sector information; funds from the European Regional Development Fund and national co-financing from the state budget.
Oct 15, 2021
Jul 19, 2021