| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 972703 | Mathematical Social Sciences | 2012 | 7 Pages |
Abstract
⺠The AK endogenous growth model with persistent unemployment is analyzed. ⺠The balanced growth path is either unique or there are two balanced growth paths. ⺠If the balanced growth path is unique, it is saddle point stable. ⺠In the case of non-uniqueness, one path is a saddle point, and the other is stable or unstable. ⺠A Hopf bifurcation may occur, generating persistent growth cycles.
Related Topics
Physical Sciences and Engineering
Mathematics
Applied Mathematics
Authors
Alfred Greiner,