Assessment of the Impact of Aggregated Economic Factors on Optimal Consumption in Models of Economic Growth

The problem of consumption-optimal economic growth is considered. In the model there are three factors of production: capital, labor and useful work, that interact in the production of homogenous output. At any instant of time a fraction of this homogeneous output can be allocated to investment in accumulation of capital and useful work. The gross domestic product (GDP) of a country is presented by the linear-exponential (LINEX) production function. \n \nThe general goals of the research can be formulated as follows: \n \n-analysis of properties of the LINEX production function and identification of parameters under restrictions on elasticity coefficients; \n \n-analysis of the Hamiltonian system of differential equations for the Pontryagin maximum principle in the optimal control problem; \n \n-elaboration of an algorithm for constructing synthetic trajectories of optimal economic growth; \n \n-development of software for numerical simulation and sensitivity analysis; \n \n-comparison of real and synthetic trajectories of economic growth, and simulation of future scenarios.