Balanced Economic Growth

The dynamics of macroeconomic outcomes manifests on short and long periods. Analysis of economic growth is carried out for long periods of time to eliminate the effects of cyclical expansion within short periods of time. The study of economic growth process can be performed using the production function, which enables the theoretical trajectory of the economic system. When there are constant relations between the combined factors of production, economic growth trajectory is its own balanced growth. Per capita production function describes the influence of providing technical labor in the results of long-term macroeconomic dynamics. Properties of real trajectory of economic growth are dependent on the type of long term balanced growth trajectory that tends towards the real growth trajectory