Nonlinear Dynamics in the Solow Model with Bounded Population Growth and Time-to-Build Technology
The aim of this paper is to show that the Solow model equipped by realistic assumptions on technology and population dynamics is capable of explaining a well-known stylised fact of growth, that is, the presence of persistent oscillations of demoeconomic variables. In particular, our analysis shows t...
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| Format: | Article |
| Language: | English |
| Published: |
Wiley
2013-01-01
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| Series: | Abstract and Applied Analysis |
| Online Access: | http://dx.doi.org/10.1155/2013/836537 |
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| _version_ | 1832549433220268032 |
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| author | Luca Guerrini Mauro Sodini |
| author_facet | Luca Guerrini Mauro Sodini |
| author_sort | Luca Guerrini |
| collection | DOAJ |
| description | The aim of this paper is to show that the Solow model equipped by realistic
assumptions on technology and population dynamics is capable of explaining a
well-known stylised fact of growth, that is, the presence of persistent
oscillations of demoeconomic variables. In particular, our analysis shows that
the coexistence of delays between (i) new investment and production and (ii) the
birth date and the recruitment in the labour force is a source of cyclical
behaviour in capital accumulation. |
| format | Article |
| id | doaj-art-3b9058916fa34b7eb232721c54ec849b |
| institution | Kabale University |
| issn | 1085-3375 1687-0409 |
| language | English |
| publishDate | 2013-01-01 |
| publisher | Wiley |
| record_format | Article |
| series | Abstract and Applied Analysis |
| spelling | doaj-art-3b9058916fa34b7eb232721c54ec849b2025-02-03T06:11:13ZengWileyAbstract and Applied Analysis1085-33751687-04092013-01-01201310.1155/2013/836537836537Nonlinear Dynamics in the Solow Model with Bounded Population Growth and Time-to-Build TechnologyLuca Guerrini0Mauro Sodini1Department of Management, Polytechnic University of Marche, Piazza Martelli 8, 60121 Ancona, ItalyDepartment of Economics and Management, University of Pisa, Via Cosimo Ridolfi 10, 56124 Pisa, ItalyThe aim of this paper is to show that the Solow model equipped by realistic assumptions on technology and population dynamics is capable of explaining a well-known stylised fact of growth, that is, the presence of persistent oscillations of demoeconomic variables. In particular, our analysis shows that the coexistence of delays between (i) new investment and production and (ii) the birth date and the recruitment in the labour force is a source of cyclical behaviour in capital accumulation.http://dx.doi.org/10.1155/2013/836537 |
| spellingShingle | Luca Guerrini Mauro Sodini Nonlinear Dynamics in the Solow Model with Bounded Population Growth and Time-to-Build Technology Abstract and Applied Analysis |
| title | Nonlinear Dynamics in the Solow Model with Bounded
Population Growth and Time-to-Build Technology |
| title_full | Nonlinear Dynamics in the Solow Model with Bounded
Population Growth and Time-to-Build Technology |
| title_fullStr | Nonlinear Dynamics in the Solow Model with Bounded
Population Growth and Time-to-Build Technology |
| title_full_unstemmed | Nonlinear Dynamics in the Solow Model with Bounded
Population Growth and Time-to-Build Technology |
| title_short | Nonlinear Dynamics in the Solow Model with Bounded
Population Growth and Time-to-Build Technology |
| title_sort | nonlinear dynamics in the solow model with bounded population growth and time to build technology |
| url | http://dx.doi.org/10.1155/2013/836537 |
| work_keys_str_mv | AT lucaguerrini nonlineardynamicsinthesolowmodelwithboundedpopulationgrowthandtimetobuildtechnology AT maurosodini nonlineardynamicsinthesolowmodelwithboundedpopulationgrowthandtimetobuildtechnology |