Differential Models And Neutral Systems For Controlling The Wealth Of Nations

This monograph derives from familiar economic principles the dynamics of national income, the interest rate, employment, the value of capital stock, prices, and the cumulative balance of payments. This is a Volterra neutral integrodifferential game of pursuit. The quarry control is government intervention in the form of taxation, control of money supply, tariffs, foreign credit, interest equalization tax, preferential trade agreements (which reduce trade barriers and enhance trade flows between nations), transportation and distance between trading partners. The pursuer controls include wages and productivity. The book provides conditions for controllability and then deduces how big government intervention (compared with private firms' contributions) should be to ensure the possibility of growth.The reader is assumed to be familiar with advanced calculus and to have a working knowledge of ordinary differential equations. The required theory of hereditary systems can be obtained from the book itself.

Product details

• Authors: Ethelbert Nwakuche Chukwu, Ethelbert Nwakuche (North Carolina State Univ Chukwu
• Publisher: World Scientific Publishing Company
• Languages: English
• Product format: Hardback
• Released: 02.01.2001
• EAN: 9789810243814
• ISBN: 978-981-02-4381-4
• No. of pages: 536
• Dimensions: 155 mm x 218 mm x 33 mm
• Weight: 862 g
• Series: Series on Advances in Mathematics for Applied Sciences; Series on Advances in Mathematics for Applied Sciences; Advances in Mathematics for Ap
• Subjects: Natural sciences, medicine, IT, technology > Mathematics > Miscellaneous; Social sciences, law, business > Business > Economics