The growth rate of real GDP per capita is represented as a sum of two components � a monotonically decreasing economic trend and fluctuations related to the change in some specific age population. The economic trend is modeled by an inverse function of real GDP per capita with a constant...

The transition of former socialist countries to capitalist economic system is modelled. The transition is entirely defined by three empirical parameters and the model describes only the evolution of real GDP per capita since the start of the disintegration of socialism. It is found that the...