scholarly journals Local and global bifurcations in an economic growth model with endogenous labour supply and multiplicative external habits

2014 ◽  
Vol 24 (1) ◽  
pp. 013122 ◽  
Author(s):  
Luca Gori ◽  
Mauro Sodini
2020 ◽  
Author(s):  
Ramona Ioana Oprea ◽  
Pater Flavius ◽  
Adina Juratoni ◽  
Olivia Bundau

2009 ◽  
Vol 2009 ◽  
pp. 1-17
Author(s):  
Wei-Bin Zhang

This paper proposes a one-sector multigroup growth model with endogenous labor supply in discrete time. Proposing an alternative approach to behavior of households, we examine the dynamics of wealth and income distribution in a competitive economy with capital accumulation as the main engine of economic growth. We show how human capital levels, preferences, and labor force of heterogeneous households determine the national economic growth, wealth, and income distribution and time allocation of the groups. By simulation we demonstrate, for instance, that in the three-group economy when the rich group's human capital is improved, all the groups will economically benefit, and the leisure times of all the groups are reduced but when any other group's human capital is improved, the group will economically benefit, the other two groups economically lose, and the leisure times of all the groups are increased.


2013 ◽  
Vol 2013 ◽  
pp. 1-10 ◽  
Author(s):  
Carlo Bianca ◽  
Massimiliano Ferrara ◽  
Luca Guerrini

A further generalization of an economic growth model is the main topic of this paper. The paper specifically analyzes the effects on the asymptotic dynamics of the Solow model when two time delays are inserted: the time employed in order that the capital is used for production and the necessary time so that the capital is depreciated. The existence of a unique nontrivial positive steady state of the generalized model is proved and sufficient conditions for the asymptotic stability are established. Moreover, the existence of a Hopf bifurcation is proved and, by using the normal form theory and center manifold argument, the explicit formulas which determine the stability, direction, and period of bifurcating periodic solutions are obtained. Finally, numerical simulations are performed for supporting the analytical results.


Filomat ◽  
2013 ◽  
Vol 27 (4) ◽  
pp. 515-528 ◽  
Author(s):  
Miodrag Mateljevic ◽  
Marek Svetlik ◽  
Miloljub Albijanic ◽  
Nebojsa Savic

In this paper we give a generalization of the Lagrange mean value theorem via lower and upper derivative, as well as appropriate criteria of monotonicity and convexity for arbitrary function f : (a, b) ( R. Some applications to the neoclassical economic growth model are given (from mathematical point of view).


2021 ◽  
Vol 2021 ◽  
pp. 1-11
Author(s):  
Yue Zhong

We investigate a spatial economic growth model with bounded population growth to obtain the asymptotic behavior of detrended capital in a continuous space. The formation of capital accumulation is expressed by a partial differential equation with corresponding boundary conditions. The capital accumulation interacts with the morphology to affect the optimal dynamics of economic growth. After redrafting the spatial growth model in the infinite dimensional Hilbert space, we identify the unique optimal control and value function when the bounded population growth is considered. With nonnegative initial distribution of capital, the explicit solution of the model is obtained. The time behavior of the explicit solution guarantees the convergence issue of the detrended capital level across space and time.


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