A Discrete Two-Sector Economic Growth Model
This paper studies a key model in economic theory—the two-sector growth model—with an alternative utility function. We show that the system has a unique stable equilibrium when the production functions take on the Cobb-Douglas form. We also simulate the model and demonstrate effects of changes in so...
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| Format: | Article |
| Language: | English |
| Published: |
Wiley
2007-01-01
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| Series: | Discrete Dynamics in Nature and Society |
| Online Access: | http://dx.doi.org/10.1155/2007/89464 |
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| _version_ | 1850174876181069824 |
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| author | Wei-Bin Zhang |
| author_facet | Wei-Bin Zhang |
| author_sort | Wei-Bin Zhang |
| collection | DOAJ |
| description | This paper studies a key model in economic theory—the two-sector growth model—with an alternative utility function. We show that the system has a unique stable equilibrium when the production functions take on the Cobb-Douglas form. We also simulate the model and demonstrate effects of changes in some parameters. |
| format | Article |
| id | doaj-art-d6a20868ed144794bf2ccdbe69cd028f |
| institution | OA Journals |
| issn | 1026-0226 1607-887X |
| language | English |
| publishDate | 2007-01-01 |
| publisher | Wiley |
| record_format | Article |
| series | Discrete Dynamics in Nature and Society |
| spelling | doaj-art-d6a20868ed144794bf2ccdbe69cd028f2025-08-20T02:19:34ZengWileyDiscrete Dynamics in Nature and Society1026-02261607-887X2007-01-01200710.1155/2007/8946489464A Discrete Two-Sector Economic Growth ModelWei-Bin Zhang0College of Asia Pacific Management, Ritsumeikan Asia Pacific University, 1-1 Jumonjibaru, Beppu-Shi, Oita-ken 874-8577, JapanThis paper studies a key model in economic theory—the two-sector growth model—with an alternative utility function. We show that the system has a unique stable equilibrium when the production functions take on the Cobb-Douglas form. We also simulate the model and demonstrate effects of changes in some parameters.http://dx.doi.org/10.1155/2007/89464 |
| spellingShingle | Wei-Bin Zhang A Discrete Two-Sector Economic Growth Model Discrete Dynamics in Nature and Society |
| title | A Discrete Two-Sector Economic Growth Model |
| title_full | A Discrete Two-Sector Economic Growth Model |
| title_fullStr | A Discrete Two-Sector Economic Growth Model |
| title_full_unstemmed | A Discrete Two-Sector Economic Growth Model |
| title_short | A Discrete Two-Sector Economic Growth Model |
| title_sort | discrete two sector economic growth model |
| url | http://dx.doi.org/10.1155/2007/89464 |
| work_keys_str_mv | AT weibinzhang adiscretetwosectoreconomicgrowthmodel AT weibinzhang discretetwosectoreconomicgrowthmodel |