We introduce a time-to-build technology in a Solowmodel with bounded technological progress.Our analysis shows that the system may be asymptotically stable, or it can produce stability switches and Hopf bifurcations when time delay varies. The direction and the stability criteria of the bifurcating periodic solutions are obtained by the normal form theory and the center manifold theorem. Numerical simulations confirms the theoretical results. 1. Introduction
Dynamic Properties of the Solow Model with Bounded Technological Progress and Time-to-Build Technology / Luca, Guerrini; Sodini, Mauro. - In: THE SCIENTIFIC WORLD JOURNAL. - ISSN 2356-6140. - 2014:(2014), pp. 1-8. [10.1155/2014/908629]
Dynamic Properties of the Solow Model with Bounded Technological Progress and Time-to-Build Technology
SODINI, MAURO
2014
Abstract
We introduce a time-to-build technology in a Solowmodel with bounded technological progress.Our analysis shows that the system may be asymptotically stable, or it can produce stability switches and Hopf bifurcations when time delay varies. The direction and the stability criteria of the bifurcating periodic solutions are obtained by the normal form theory and the center manifold theorem. Numerical simulations confirms the theoretical results. 1. IntroductionFile | Dimensione | Formato | |
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