The stability properties of goodwin's growth cycle model

Detalhes bibliográficos
Autor(a) principal: Conraria, Luís Aguiar
Data de Publicação: 2001
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/1822/1382
Resumo: It is known that Goodwin.s Predator-Prey model suffers from structural instability. In its pure form the model has a neutral equilibrium. Ploeg (1985) showed that if the hypothesis of fixed proportions technology was relaxed then the equilibrium would become stable. We show here that the equilibrium becomes unstable when some sort of endogenous cyclical labour productivity is considered. Then we will study the consequences of considering both effects concluding that the stabilizing effect of considering a flexible technology is much stronger than the destabilizing effect of endogenizing labour productivity.
id RCAP_6277828d4061f84b2047b28cd958978a
oai_identifier_str oai:repositorium.sdum.uminho.pt:1822/1382
network_acronym_str RCAP
network_name_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository_id_str 7160
spelling The stability properties of goodwin's growth cycle modelIt is known that Goodwin.s Predator-Prey model suffers from structural instability. In its pure form the model has a neutral equilibrium. Ploeg (1985) showed that if the hypothesis of fixed proportions technology was relaxed then the equilibrium would become stable. We show here that the equilibrium becomes unstable when some sort of endogenous cyclical labour productivity is considered. Then we will study the consequences of considering both effects concluding that the stabilizing effect of considering a flexible technology is much stronger than the destabilizing effect of endogenizing labour productivity.Economic Policies Research Unit - (NIPE)Universidade do Minho. Núcleo de Investigação em Políticas Económicas (NIPE)Universidade do MinhoConraria, Luís Aguiar20012001-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/1822/1382enginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-07-21T12:01:06Zoai:repositorium.sdum.uminho.pt:1822/1382Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T18:51:01.294233Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv The stability properties of goodwin's growth cycle model
title The stability properties of goodwin's growth cycle model
spellingShingle The stability properties of goodwin's growth cycle model
Conraria, Luís Aguiar
title_short The stability properties of goodwin's growth cycle model
title_full The stability properties of goodwin's growth cycle model
title_fullStr The stability properties of goodwin's growth cycle model
title_full_unstemmed The stability properties of goodwin's growth cycle model
title_sort The stability properties of goodwin's growth cycle model
author Conraria, Luís Aguiar
author_facet Conraria, Luís Aguiar
author_role author
dc.contributor.none.fl_str_mv Universidade do Minho
dc.contributor.author.fl_str_mv Conraria, Luís Aguiar
description It is known that Goodwin.s Predator-Prey model suffers from structural instability. In its pure form the model has a neutral equilibrium. Ploeg (1985) showed that if the hypothesis of fixed proportions technology was relaxed then the equilibrium would become stable. We show here that the equilibrium becomes unstable when some sort of endogenous cyclical labour productivity is considered. Then we will study the consequences of considering both effects concluding that the stabilizing effect of considering a flexible technology is much stronger than the destabilizing effect of endogenizing labour productivity.
publishDate 2001
dc.date.none.fl_str_mv 2001
2001-01-01T00:00:00Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/1822/1382
url http://hdl.handle.net/1822/1382
dc.language.iso.fl_str_mv eng
language eng
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Universidade do Minho. Núcleo de Investigação em Políticas Económicas (NIPE)
publisher.none.fl_str_mv Universidade do Minho. Núcleo de Investigação em Políticas Económicas (NIPE)
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
institution RCAAP
reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
repository.mail.fl_str_mv
_version_ 1799132280243879936

Registros relacionados