Volume 9 Number 1 (Jan. 2014)
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JSW 2014 Vol.9(1): 211-215 ISSN: 1796-217X
doi: 10.4304/jsw.9.1.211-215

Balanced Growth Solutions and Related Problems of Hua’s Macroeconomic Model

Jing Zhang
DongGuan Polytechnic College/ Department of Continuous Education, DongGuan, China

Abstract—In this paper, the balanced growth solution and relative stability of solution on Hua’s macroeconomic model is studied. Firstly, by deriving the greatest eigenvalue and nonnegative eigenvector, and analyzing the range of the eigenvalue of nonnegative matrix, the existence of the balanced growth solution on a sort of Hua’s macroeconomic model is proved, no matter whether direct consumption coefficient matrix is irreducible or reducible. Furthermore, the concept of balanced solution’s relative stability is introduced to Hua’s macroeconomic model and the necessary and sufficient condition for the existence of these solutions is obtained. Finally, based on the price equation proposed by Prof. Hua, the dynamic price system which is inclusive of the interest rate is proposed and the relationship between price and output on the basis of the relative stability of price system is illuminated.

Index Terms—Hua’s macroeconomic model, balanced growth solution, relative stability, price system

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Cite: Jing Zhang, "Balanced Growth Solutions and Related Problems of Hua’s Macroeconomic Model," Journal of Software vol. 9, no. 1, pp. 211-215, 2014.

General Information

ISSN: 1796-217X (Online)
Frequency:  Bimonthly (Since 2020)
Editor-in-Chief: Prof. Antanas Verikas
Executive Editor: Ms. Yoyo Y. Zhou
Abstracting/ Indexing: DBLP, EBSCO, Google Scholar, ProQuest, INSPEC(IET), ULRICH's Periodicals Directory, WorldCat, etc
E-mail: jsw@iap.org
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