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On the stability of the solutions of an impulsive Solow model with endogenous population

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  • I. Stamova
  • A. Stamov

Abstract

In this paper we extend the Solow model to take account for: (1) the existence of a delay in the process of recruitment in the labor force, due to the age structure of the population (2) the existence of impulsive effects on the capital-labor ratio when external factors influence it. We investigate conditions under which the extended model is capable of generating stable growth process. Copyright Springer Science+Business Media New York 2013

Suggested Citation

  • I. Stamova & A. Stamov, 2013. "On the stability of the solutions of an impulsive Solow model with endogenous population," Economic Change and Restructuring, Springer, vol. 46(2), pages 203-217, May.
    • Handle: RePEc:kap:ecopln:v:46:y:2013:i:2:p:203-217
    DOI: 10.1007/s10644-012-9124-5
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    References listed on IDEAS

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    1. Robert M. Solow, 1956. "A Contribution to the Theory of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 70(1), pages 65-94.
    2. Luciano Fanti & Piero Manfredi, 2003. "The Solow¡¯S Model With Endogenous Population: A Neoclassical Growth Cycle Model," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 28(2), pages 103-115, December.
    3. Sheshinski, Eytan, 1969. "Stability of Growth Equilibrium in a Neoclassical Vintage Model," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 10(2), pages 141-148, June.
    4. R. M. Solow & J. Tobin & C. C. Weizsäcker & M. Yaari, 1971. "Neoclassical Growth with Fixed Factor Proportions," Palgrave Macmillan Books, in: F. H. Hahn (ed.), Readings in the Theory of Growth, chapter 9, pages 68-102, Palgrave Macmillan.
    5. Marek Szydłowski & Adam Krawiec, 2004. "A note on Kaleckian lags in the Solow model," Review of Political Economy, Taylor & Francis Journals, vol. 16(4), pages 501-506.
    6. Boucekkine, Raouf & Licandro, Omar & Paul, Christopher, 1997. "Differential-difference equations in economics: On the numerical solution of vintage capital growth models," Journal of Economic Dynamics and Control, Elsevier, vol. 21(2-3), pages 347-362.
    7. Guerrini, Luca, 2006. "The Solow-Swan model with a bounded population growth rate," Journal of Mathematical Economics, Elsevier, vol. 42(1), pages 14-21, February.
    8. Alan V. Deardorff, 1970. "Growth Paths in the Solow Neoclassical Growth Model," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 84(1), pages 134-139.
    9. Raut, L K & Srinivasan, T N, 1994. "Dynamics of Endogenous Growth," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 4(5), pages 777-790, August.
    10. David N. DeJong & Beth F. Ingram & Charles H. Whiteman, 2000. "Keynesian impulses versus Solow residuals: identifying sources of business cycle fluctuations," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 15(3), pages 311-329.
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    More about this item

    Keywords

    Solow growth model; Endogenous population; Impulses; Stability; C62; E2; J0;
    All these keywords.

    JEL classification:

    • C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment
    • J0 - Labor and Demographic Economics - - General

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