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Inada conditions

Index Inada conditions

In macroeconomics, the Inada conditions, named after Japanese economist Ken-Ichi Inada, are assumptions about the shape of a production function that guarantee the stability of an economic growth path in a neoclassical growth model. [1]

15 relations: Cobb–Douglas production function, Concave function, Constant elasticity of substitution, Differentiable function, Economic growth, Hessian matrix, Hirofumi Uzawa, Ken-Ichi Inada, Limit of a function, Macroeconomics, Marginal return, Positive-definite matrix, Production function, Ramsey–Cass–Koopmans model, The Review of Economic Studies.

Cobb–Douglas production function

In economics and econometrics, the Cobb–Douglas production function is a particular functional form of the production function, widely used to represent the technological relationship between the amounts of two or more inputs (particularly physical capital and labor) and the amount of output that can be produced by those inputs.

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Concave function

In mathematics, a concave function is the negative of a convex function.

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Constant elasticity of substitution

Constant elasticity of substitution (CES), in economics, is a property of some production functions and utility functions.

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Differentiable function

In calculus (a branch of mathematics), a differentiable function of one real variable is a function whose derivative exists at each point in its domain.

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Economic growth

Economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time.

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Hessian matrix

In mathematics, the Hessian matrix or Hessian is a square matrix of second-order partial derivatives of a scalar-valued function, or scalar field.

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Hirofumi Uzawa

was a Japanese economist.

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Ken-Ichi Inada

was a Japanese economist.

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Limit of a function

Although the function (sin x)/x is not defined at zero, as x becomes closer and closer to zero, (sin x)/x becomes arbitrarily close to 1.

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Macroeconomics

Macroeconomics (from the Greek prefix makro- meaning "large" and economics) is a branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole.

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Marginal return

Marginal return is the rate of return for a marginal increase in investment; roughly, this is the additional output resulting from a one-unit increase in the use of a variable input, while other inputs are constant.

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Positive-definite matrix

In linear algebra, a symmetric real matrix M is said to be positive definite if the scalar z^Mz is strictly positive for every non-zero column vector z of n real numbers.

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Production function

In economics, a production function relates quantities of physical output of a production process to quantities of physical inputs or production function refers as the expression of the technological relation between physical inputs and outputs of the goods.

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Ramsey–Cass–Koopmans model

The Ramsey–Cass–Koopmans model, or Ramsey growth model, is a neoclassical model of economic growth based primarily on the work of Frank P. Ramsey, with significant extensions by David Cass and Tjalling Koopmans.

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The Review of Economic Studies

The Review of Economic Studies (also known as RESTUD) is a quarterly peer-reviewed academic journal covering economics.

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Uzawa condition.

References

[1] https://en.wikipedia.org/wiki/Inada_conditions

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