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The Time Delays’ Effects on the Qualitative Behavior of an Economic Growth Model
Joint Authors
Bianca, Carlo
Ferrara, Massimiliano
Guerrini, Luca
Source
Issue
Vol. 2013, Issue 2013 (31 Dec. 2013), pp.1-10, 10 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2013-12-04
Country of Publication
Egypt
No. of Pages
10
Main Subjects
Abstract EN
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.
American Psychological Association (APA)
Bianca, Carlo& Ferrara, Massimiliano& Guerrini, Luca. 2013. The Time Delays’ Effects on the Qualitative Behavior of an Economic Growth Model. Abstract and Applied Analysis،Vol. 2013, no. 2013, pp.1-10.
https://search.emarefa.net/detail/BIM-506515
Modern Language Association (MLA)
Bianca, Carlo…[et al.]. The Time Delays’ Effects on the Qualitative Behavior of an Economic Growth Model. Abstract and Applied Analysis No. 2013 (2013), pp.1-10.
https://search.emarefa.net/detail/BIM-506515
American Medical Association (AMA)
Bianca, Carlo& Ferrara, Massimiliano& Guerrini, Luca. The Time Delays’ Effects on the Qualitative Behavior of an Economic Growth Model. Abstract and Applied Analysis. 2013. Vol. 2013, no. 2013, pp.1-10.
https://search.emarefa.net/detail/BIM-506515
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-506515