scholarly journals The Dynamics of a Spatial Economic Model with Bounded Population Growth

2021 ◽  
Vol 2021 ◽  
pp. 1-11
Author(s):  
Yue Zhong
Keyword(s):  
Economic Growth ◽  
Population Growth ◽  
Growth Model ◽  
Explicit Solution ◽  
Capital Accumulation ◽  
Initial Distribution ◽  
Time Behavior ◽  
Continuous Space ◽  
Infinite Dimensional ◽  
Economic Growth Model

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.

scholarly journals A Discrete Heterogeneous-Group Economic Growth Model with Endogenous Leisure Time

2009 ◽  
Vol 2009 ◽  
pp. 1-17
Author(s):  
Wei-Bin Zhang
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Income Distribution ◽  
Growth Model ◽  
Time Allocation ◽  
Capital Accumulation ◽  
Economic Growth Model ◽  
National Economic ◽  
The Rich ◽  
Main Engine

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.

scholarly journals Modeling and Application of Fractional-Order Economic Growth Model with Time Delay

2021 ◽  
Vol 5 (3) ◽  
pp. 74
Author(s):  
Ziyi Lin ◽  
Hu Wang
Keyword(s):  
Economic Growth ◽  
Time Delay ◽  
Fractional Order ◽  
Growth Model ◽  
Capital Accumulation ◽  
High Speed ◽  
Time Lag ◽  
Sufficient Conditions ◽  
Economic Growth Model ◽  
Proposed Model

This paper proposes a fractional-order economic growth model with time delay based on the Solow model to describe the economic growth path and explore the underlying growth factors. It effectively captures memory characteristics in economic operations by adding a time lag to the capital stock. The proposed model is presented in the form of a fractional differential equations system, and the sufficient conditions for the local stability are obtained. In the simulation, the theoretical results are verified and the sensitivity analysis is performed on individual parameters. Based on the proposed model, we predict China’s GDP in the next thirty years through optimization and find medium-to-high-speed growth in the short term. Furthermore, the application results indicate that China is facing the disappearance of demographic dividend and the deceleration of capital accumulation. Therefore, it is urgent for China to increase the total factor productivity (TFP) and transform its economic growth into a trajectory dependent on TFP growth.

scholarly journals COVID 19 – Is this a Result of Population Growth – Was a Malthusian Catastrophe Inevitable?

2020 ◽  
Vol 2 (12, 20) ◽  
Author(s):  
Carolyn V. Currie ◽  
Keyword(s):  
Economic Growth ◽  
Population Growth ◽  
Natural Disasters ◽  
Growth Model ◽  
Growth Models ◽  
Economic Growth Model ◽  
Economic Growth Models ◽  
Growth Economic

This article examines theories of population growth and puts forward a new economic growth model that would reduce the instance of natural disasters and pandemics. Keywords: Covid19, population growth, economic growth models

Dynamic analysis in an economic growth model with CES utility function and delay

2020 ◽  
Author(s):  
Ramona Ioana Oprea ◽  
Pater Flavius ◽  
Adina Juratoni ◽  
Olivia Bundau
Keyword(s):  
Economic Growth ◽  
Dynamic Analysis ◽  
Utility Function ◽  
Growth Model ◽  
Economic Growth Model ◽  
Ces Utility Function

scholarly journals The Time Delays’ Effects on the Qualitative Behavior of an Economic Growth Model

2013 ◽  
Vol 2013 ◽  
pp. 1-10 ◽  
Author(s):  
Carlo Bianca ◽  
Massimiliano Ferrara ◽  
Luca Guerrini
Keyword(s):  
Economic Growth ◽  
Growth Model ◽  
Time Delays ◽  
Sufficient Conditions ◽  
Qualitative Behavior ◽  
Solow Model ◽  
Normal Form Theory ◽  
Economic Growth Model ◽  
Form Theory ◽  
The Stability

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.

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