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Goodwin's Predator-Prey Model with Endogenous Technological Progress

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Author Info
Miloslav Vošvrda () (Institute of Information Theory and Automation, Academy of Sciences of the Czech Republic, Prague, Czech Republic, Institute of Economic Studies, Faculty of Social Sciences, Charles University, Prague, Czech Republic)
Jan Kodera

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Abstract

Contemporary economics contains mainly two approaches for an explanation of fluctuations of economic activity indicators. The first approach expresses fluctuations as consequences of random external shocks. The second approach expresses fluctuations as a deterministic dynamical process producing more complex behaviour of the economic system. In our article both approaches are applied. A purpose of our paper is to re-formulate traditional Goodwin predator-prey model by including a specific differential equation describing technological progress in deterministic and/or stochastic way. A base of this system contains such variables in interest as a rate of employment, a share of labour, and different forms of a rate of the technological progress.

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Publisher Info
Paper provided by Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies in its series Working Papers IES with number 2007/09.

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Length: 9 pages
Date of creation: Jan 2007
Date of revision: Jan 2007
Handle: RePEc:fau:wpaper:wp2007_09

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Related research
Keywords: non-linear three-equation dynamic model; predator-prey market; limit cycle;

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Find related papers by JEL classification:
C6 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming
E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Wadim Strielkowski, 2006. "People of the Road: the Role of Ethnic Origin in Migration Decisions. A Study of Slovak Roma Asylum-Seekers in the Czech Republic in 1998-2006," Working Papers IES 2006/32, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Dec 2006. [Downloadable!]
  2. Vladimír Benáček & Jiří Podpiera & Ladislav Prokop, 2006. "Command Economy after the Shocks of Opening up: The Factors of Adjustment and Specialisation in the Czech Trade," Working Papers IES 2006/20, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Apr 2006. [Downloadable!]
  3. Roman Horváth, 2007. "Estimating Time-Varying Policy Neutral Rate in Real Time," Working Papers IES 2007/01, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Jan 2007. [Downloadable!]
  4. Jarko Fidrmuc & Roman Horváth, 2006. "Credibility of Exchange Rate Policies in Selected EU New Members: Evidence from High Frequency Data," Working Papers IES 2006/28, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Oct 2006. [Downloadable!]
  5. Karel Janda, 2006. "Lender and Borrower as Principal and Agent," Working Papers IES 2006/24, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Jul 2006. [Downloadable!]
  6. Petr Jakubík, 2006. "Does Credit Risk Vary with Economic Cycles? The Case of Finland," Working Papers IES 2006/11, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Apr 2006. [Downloadable!]
  7. Karel Janda, 2006. "Optimal Deterministic Debt Contracts," Working Papers IES 2006/25, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Oct 2006. [Downloadable!]
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