RT Journal Article
T1 On the stability properties of a delay differential neoclassical model of economic growth
A1 Buedo Fernández, Sebastián
A1 Liz Marzán, Eduardo
K1 Delay differential equation
K1 Neoclassical growth model
K1 Global stability
K1 Stability switches
K1 Lasota equation
K1 Gamma-Ricker map
AB The main aim of this paper is to establish sharp global stability conditions for the positive equilibrium of a well-known model of economic growth when a delay is considered in the production function. In order to deal with a broad scenario, we establish some results of global attraction for a general family of differential equations with variable delay; for it, we use the notion of strong attractor, which allows us to simplify the proofs, as well as to generalize previous results. Our study reveals that sometimes production delays are not able to destabilize the positive equilibrium, even if they are large. In other cases, the stability properties of the equilibrium depend on the interaction between the delay and other relevant model parameters, leading sometimes to stability windows in the bifurcation diagram.
PB University of Szeged
SN 1417-3875
YR 2018
FD 2018
LK http://hdl.handle.net/10347/22113
UL http://hdl.handle.net/10347/22113
LA eng
NO Buedo-Fernández, S., and Liz, E. (2018). On the stability properties of a delay differential neoclassical model of economic growth. Electronic Journal of Qualitative Theory of Differential Equations, 2018(43), 1-14.
NO The research of Sebastián Buedo-Fernández has been partially supported by Ministerio de Educación, Cultura y Deporte of Spain (grant FPU16/04416), Xunta de Galicia and European Community fund FEDER (grants ED481A-2017/030, GRC2015/004, R2016/022), and AEI of Spain (grant MTM2016-75140-P). Eduardo Liz acknowledges the support of the research grant MTM2017–85054–C2–1–P (AEI/FEDER, UE)
DS Minerva
RD 25 abr 2026