Dynamic Properties of the Solow Model with Bounded Technological Progress and Time-to-Build Technology

We introduce a time-to-build technology in a Solow model 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 bifurcatin...

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Detalles Bibliográficos
Autores principales: Guerrini, Luca, Sodini, Mauro
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Hindawi Publishing Corporation 2014
Materias:
Research Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3977432/
https://www.ncbi.nlm.nih.gov/pubmed/24782674
http://dx.doi.org/10.1155/2014/908629
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author Guerrini, Luca
Sodini, Mauro
author_facet Guerrini, Luca
Sodini, Mauro
author_sort Guerrini, Luca
collection PubMed
description We introduce a time-to-build technology in a Solow model 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.
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spelling pubmed-39774322014-04-29 Dynamic Properties of the Solow Model with Bounded Technological Progress and Time-to-Build Technology Guerrini, Luca Sodini, Mauro ScientificWorldJournal Research Article We introduce a time-to-build technology in a Solow model 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. Hindawi Publishing Corporation 2014-03-19 /pmc/articles/PMC3977432/ /pubmed/24782674 http://dx.doi.org/10.1155/2014/908629 Text en Copyright © 2014 L. Guerrini and M. Sodini. https://creativecommons.org/licenses/by/3.0/ This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
spellingShingle Research Article
Guerrini, Luca
Sodini, Mauro
Dynamic Properties of the Solow Model with Bounded Technological Progress and Time-to-Build Technology
title Dynamic Properties of the Solow Model with Bounded Technological Progress and Time-to-Build Technology
title_full Dynamic Properties of the Solow Model with Bounded Technological Progress and Time-to-Build Technology
title_fullStr Dynamic Properties of the Solow Model with Bounded Technological Progress and Time-to-Build Technology
title_full_unstemmed Dynamic Properties of the Solow Model with Bounded Technological Progress and Time-to-Build Technology
title_short Dynamic Properties of the Solow Model with Bounded Technological Progress and Time-to-Build Technology
title_sort dynamic properties of the solow model with bounded technological progress and time-to-build technology
topic Research Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3977432/
https://www.ncbi.nlm.nih.gov/pubmed/24782674
http://dx.doi.org/10.1155/2014/908629
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