Równowaga Solowa przy alternatywnych trajektoriach liczby pracujących

Filipowicz, Katarzyna; Grodzicki, Maciej; Tokarski, Tomasz

doi:10.18778/0208-6018.326.12

Cited by 2 publications

(3 citation statements)

References 12 publications

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“…Like in the studies by , Filipowicz, Wisła and Tokarski (2016) or Filipowicz, Syrek and Tokarski (2017), the elasticity of output with respect to capital (that is α) is calibrated so that the ratio of labour productivities equals 3 at the ratio of capitals per worker in two economies that equals 5. Then, given the labour productivity function y k = α , we obtain 9 : ln / ln / ln 3 ln5 0.68261.…”

Section: Numerical Simulationsmentioning

confidence: 99%

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The Solow Model of Economic Growth

Dykas¹,

Tokarski²,

Wisła³

2022

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List of figures xi List of tables xiii Author biographies xv). (a) Scenario I, (b) scenario V, and (c) scenario IX * , k P * , y R * and y P * in the several variants relative to Variant I (Variant I = 100) 6.10 Ratios of average estimated k R * , k P * , y R * and y P * in the several variants relative to Variant I, assuming that either economy invests 10% of its savings in the other economy (Variant I = 100) 6.11 Selected numerical simulation results in Variant A (ω = 20%) 6.12 Selected numerical simulation results in Variant B (ω = 40%) 6.13 Selected numerical simulation results in Variant C (ω = 50%) 6.14 Selected simulation results in Variant D (ω = 60%) 6.15 Selected simulation results in Variant E (ω = 80%) 6.16. Selected results of numerical simulations in Variant F (s R = 25% and s P = 15%) 6.17 Selected results of numerical simulations in Variant F (s R = 15% and s P = 25%) 6.18 Ratios of average estimated k R * , k P * , y R * and y P * in the several variants relative to Variant I (Variant I = 100) 8.1 Simulations of labour productivity at standard (S), logistic (L) and post-Malthusian (PM) trajectories of the number of workers and at δ = 0.07, n = 0.01, α ≈ 0.68261 and m = e 9.1 Simulation of labour productivity at ω = 3 Tables xiv Tables 9.2 Simulation of labour productivity at ω = 5 9.3 Simulation of labour productivity at ω = 10 9.4 Simulation of labour productivity at ω = 25 9.5 Simulation of labour productivity at ω = 50 10.1 Scenarios of epidemic development 10.2 Epidemiological indicators in consecutive scenarios 10.3 Economic indicators in consecutive scenarios at K1/K * = 0.4 (a poorly developed economy) 10.4 Economic indicators in consecutive scenarios at K1/K * = 0.9 (a strongly developed economy)Author Biographies Paweł Dykas is an Associate Professor at the Department of Mathematical Economics of the Jagiellonian University in Krakow (Poland) and is also the author and co-author of over 50 academic publications such as The Neoclassical Model of Economic Growth and Its Ability to Account for Demographic Forecasts (2018), Demographic Forecasts and Volatility of Investment Rates vs. Labour Productivity Trajectories (2019) and An Impact of the Variable Technological Progress Rate on the Trajectory of Labour Productivity (2020). Recently, he has co-edited and contributed to The Socioeconomic Impact of COVID-19 on Eastern European Countries (Routledge, 2022). His main interests include the mathematical theory of economic growth, an analysis of the spatial diversity of economic development and an analysis of regional differences in the labour market. Tomasz Tokarski is Full Professor of Economics at the Department of Mathematical Economics of the Jagiellonian University in Krakow (Poland) and is also the author and co-author of over 200 academic publications such as Wybrane Modele Podażowych Czynników Wzrostu Gospodarczego (Selected Supply Models of Economic Growth) (2005), Ekonomia Matematyczna Modele Mikroekonomiczne (Microeconomic models of Mathematical Economics) (2011), Ekonomia Matematycz...

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Section: Numerical Simulationsmentioning

confidence: 99%

“…1 This chapter bases on the study by Filipowicz, Grodzicki and Tokarski (2016). See also Filipowicz, Syrek and Tokarski (2017).…”

Section: Notesmentioning

confidence: 99%

The Solow Model of Economic Growth

Dykas¹,

Tokarski²,

Wisła³

2022

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“…Repealing the assumption concerning fixed rates of an increase in the number of employees on the example of the Solow model can also be found in the work of Filipowicz, Syrek, and Tokarski (2017). In this article, the authors adopt two alternative trajectories of an increase in the number of employees than in the standard Solow model.…”

Section: Literature Reviewmentioning

confidence: 99%

Demographic Forecasts and Volatility of Investment Rates vs. Labor Productivity Trajectories

Bolińska

Dykas

Mente

et al. 2019

Journal of Business Economics and Management

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In the article the authors attempted to develop the neoclassical model of economic growth, repealing two assumptions regarding the Solow growth model. First of all, the authors assume that the growth path of the number of employees is increasing asymptotically to a fixed value, not to infinity as in the Solow model. The growth paths of the number of employees were determined based on demographic forecasts and the economic activity coefficient, which in the paper is understood as the ratio of the number of employees to the number of people. Secondly, the authors repeal the assumption of a fixed investment rate by taking into account the trend of changes in investment rates (a growing or declining trend). The theoretical model obtained was subjected to calibration and then numerical simulations were carried out. It was assumed that investment rates in the Polish economy decrease (from 25 to 15%) or grow (from 15 to 25%). Numerical simulations were based on demographic forecasts for the Polish economy up to 2050. Moreover, two scenarios for shaping the economic activity coefficient were considered: realistic one when in the period 2000-2050 it increased from 0.38 to 0.5. In the second scenario, it was optimistic that the increase would be 50% higher than in the first option and in 2050 it would reach 0.56. Important conclusions from the study can be presented as follows: (i) the population decline can be offset by the growing economic activity rate and therefore does not have a negative impact on economic growth, (ii) the negative impact of demographic changes on economic growth can also be offset by growing investment rates.

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Równowaga Solowa przy alternatywnych trajektoriach liczby pracujących

Cited by 2 publications

References 12 publications

The Solow Model of Economic Growth

The Solow Model of Economic Growth

Demographic Forecasts and Volatility of Investment Rates vs. Labor Productivity Trajectories

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