A note on the stability properties of goodwin's predator-prey model

Detalhes bibliográficos
Autor(a) principal: Conraria, Luís Aguiar
Data de Publicação: 2007
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/1822/6845
Resumo: Goodwin's Predator-Prey model is structurally unstable. In its pure form, the model has an equilibrium that is neither stable nor unstable. Ploeg showed that relaxing the hypothesis of fixed proportion technology would stabilize the equilibrium. On the other hand, Goodwin showed that the equilibrium becomes unstable when endogenous productivity growth is considered. This paper studies the consequences of considering both effects, and concludes that the stabilizing effect of a flexible technology is much stronger than the destabilizing effect of endogenizing labor productivity.
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spelling A note on the stability properties of goodwin's predator-prey modelBusiness cyclesNonlinear dynamicsDistributive conflictGoodwinMarxian EconomicsGoodwin's Predator-Prey model is structurally unstable. In its pure form, the model has an equilibrium that is neither stable nor unstable. Ploeg showed that relaxing the hypothesis of fixed proportion technology would stabilize the equilibrium. On the other hand, Goodwin showed that the equilibrium becomes unstable when endogenous productivity growth is considered. This paper studies the consequences of considering both effects, and concludes that the stabilizing effect of a flexible technology is much stronger than the destabilizing effect of endogenizing labor productivity.Universidade do Minho. Núcleo de Investigação em Políticas Económicas (NIPE)Universidade do MinhoConraria, Luís Aguiar2007-08-172007-08-17T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/1822/6845enginfo: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:RCAAP2023-07-21T12:08:03Zoai:repositorium.sdum.uminho.pt:1822/6845Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T18:59:10.414596Repositório 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 A note on the stability properties of goodwin's predator-prey model
title A note on the stability properties of goodwin's predator-prey model
spellingShingle A note on the stability properties of goodwin's predator-prey model
Conraria, Luís Aguiar
Business cycles
Nonlinear dynamics
Distributive conflict
Goodwin
Marxian Economics
title_short A note on the stability properties of goodwin's predator-prey model
title_full A note on the stability properties of goodwin's predator-prey model
title_fullStr A note on the stability properties of goodwin's predator-prey model
title_full_unstemmed A note on the stability properties of goodwin's predator-prey model
title_sort A note on the stability properties of goodwin's predator-prey 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
dc.subject.por.fl_str_mv Business cycles
Nonlinear dynamics
Distributive conflict
Goodwin
Marxian Economics
topic Business cycles
Nonlinear dynamics
Distributive conflict
Goodwin
Marxian Economics
description Goodwin's Predator-Prey model is structurally unstable. In its pure form, the model has an equilibrium that is neither stable nor unstable. Ploeg showed that relaxing the hypothesis of fixed proportion technology would stabilize the equilibrium. On the other hand, Goodwin showed that the equilibrium becomes unstable when endogenous productivity growth is considered. This paper studies the consequences of considering both effects, and concludes that the stabilizing effect of a flexible technology is much stronger than the destabilizing effect of endogenizing labor productivity.
publishDate 2007
dc.date.none.fl_str_mv 2007-08-17
2007-08-17T00:00:00Z
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/1822/6845
url http://hdl.handle.net/1822/6845
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)
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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
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