An Economic Growth Model with Optimal Growth Rate and Individual Years of Schooling
An economic growth model with individual years of schooling is present. It is proved that there exist optimal individual years of schooling for fixed wage growth rate. On the other hand, the economy has balance growth path for given individual years of schooling. Finally, we prove that there exist o...
Saved in:
| Main Authors: | , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Wiley
2015-01-01
|
| Series: | Discrete Dynamics in Nature and Society |
| Online Access: | http://dx.doi.org/10.1155/2015/925753 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| _version_ | 1850105705044901888 |
|---|---|
| author | Huan Yang Donghan Cai Zhongbin Chen |
| author_facet | Huan Yang Donghan Cai Zhongbin Chen |
| author_sort | Huan Yang |
| collection | DOAJ |
| description | An economic growth model with individual years of schooling is present. It is proved that there exist optimal individual years of schooling for fixed wage growth rate. On the other hand, the economy has balance growth path for given individual years of schooling. Finally, we prove that there exist optimal individual years of schooling and economic growth rate such that the individual lifetime utility reaches maximum and the economy grows on a balance growth path. |
| format | Article |
| id | doaj-art-38d4a1f8cb784a9fa021e77f0bdbb8af |
| institution | OA Journals |
| issn | 1026-0226 1607-887X |
| language | English |
| publishDate | 2015-01-01 |
| publisher | Wiley |
| record_format | Article |
| series | Discrete Dynamics in Nature and Society |
| spelling | doaj-art-38d4a1f8cb784a9fa021e77f0bdbb8af2025-08-20T02:38:59ZengWileyDiscrete Dynamics in Nature and Society1026-02261607-887X2015-01-01201510.1155/2015/925753925753An Economic Growth Model with Optimal Growth Rate and Individual Years of SchoolingHuan Yang0Donghan Cai1Zhongbin Chen2College of Mathematics and Statistics, Wuhan University, Wuhan 430072, ChinaCollege of Mathematics and Statistics, Wuhan University, Wuhan 430072, ChinaSchool of Economics and Management, Wuhan University, Wuhan 430072, ChinaAn economic growth model with individual years of schooling is present. It is proved that there exist optimal individual years of schooling for fixed wage growth rate. On the other hand, the economy has balance growth path for given individual years of schooling. Finally, we prove that there exist optimal individual years of schooling and economic growth rate such that the individual lifetime utility reaches maximum and the economy grows on a balance growth path.http://dx.doi.org/10.1155/2015/925753 |
| spellingShingle | Huan Yang Donghan Cai Zhongbin Chen An Economic Growth Model with Optimal Growth Rate and Individual Years of Schooling Discrete Dynamics in Nature and Society |
| title | An Economic Growth Model with Optimal Growth Rate and Individual Years of Schooling |
| title_full | An Economic Growth Model with Optimal Growth Rate and Individual Years of Schooling |
| title_fullStr | An Economic Growth Model with Optimal Growth Rate and Individual Years of Schooling |
| title_full_unstemmed | An Economic Growth Model with Optimal Growth Rate and Individual Years of Schooling |
| title_short | An Economic Growth Model with Optimal Growth Rate and Individual Years of Schooling |
| title_sort | economic growth model with optimal growth rate and individual years of schooling |
| url | http://dx.doi.org/10.1155/2015/925753 |
| work_keys_str_mv | AT huanyang aneconomicgrowthmodelwithoptimalgrowthrateandindividualyearsofschooling AT donghancai aneconomicgrowthmodelwithoptimalgrowthrateandindividualyearsofschooling AT zhongbinchen aneconomicgrowthmodelwithoptimalgrowthrateandindividualyearsofschooling AT huanyang economicgrowthmodelwithoptimalgrowthrateandindividualyearsofschooling AT donghancai economicgrowthmodelwithoptimalgrowthrateandindividualyearsofschooling AT zhongbinchen economicgrowthmodelwithoptimalgrowthrateandindividualyearsofschooling |