Miguel Álvarez Texocotitla, M. Álvarez-Hérnandez, S. Alvarez-Hernández
{"title":"Dimensional Analysis in Economics: A Study of the Neoclassical Economic Growth Model","authors":"Miguel Álvarez Texocotitla, M. Álvarez-Hérnandez, S. Alvarez-Hernández","doi":"10.1177/0260107919845269","DOIUrl":null,"url":null,"abstract":"The fundamental purpose of the present research article is to introduce the basic principles of dimensional analysis in the context of the neoclassical economic theory, in order to apply such principles to the fundamental relations that underlay most models of economic growth. In particular, basic instruments from dimensional analysis are used to evaluate the analytical consistency of the neoclassical economic growth model. The analysis shows that an adjustment to the model is required in such a way that the principle of dimensional homogeneity is satisfied. JEL: A12, C02, C65, O40","PeriodicalId":42664,"journal":{"name":"Journal of Interdisciplinary Economics","volume":null,"pages":null},"PeriodicalIF":0.4000,"publicationDate":"2018-02-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/0260107919845269","citationCount":"10","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Interdisciplinary Economics","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1177/0260107919845269","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q4","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 10
Abstract
The fundamental purpose of the present research article is to introduce the basic principles of dimensional analysis in the context of the neoclassical economic theory, in order to apply such principles to the fundamental relations that underlay most models of economic growth. In particular, basic instruments from dimensional analysis are used to evaluate the analytical consistency of the neoclassical economic growth model. The analysis shows that an adjustment to the model is required in such a way that the principle of dimensional homogeneity is satisfied. JEL: A12, C02, C65, O40
期刊介绍:
The explosion of information and research that has taken place in recent years has had a profound effect upon a variety of existing academic disciplines giving rise to the dissolution of barriers between some, mergers between others, and the creation of entirely new fields of enquiry.