RT Journal Article
T1 On the gamma-logistic map and applications to a delayed neoclassical model of economic growth
A1 Buedo Fernández, Sebastián
K1 Delay differential equation
K1 Neoclassical growth model
K1 Global stability
K1 Gamma-logistic map
AB In this work, we study the stability properties of a delay differential neoclassical model of economic growth, based on the original model proposed by Solow (Q J Econ 70:65–94, 1956). We consider a logistic-type production function, which comes from combining a Cobb–Douglas function and a linear pollution effect caused by increasing concentrations of capital. The difference between the production function and the classical logistic map comes from the presence of a parameter   γ∈(0,1)  in the exponent of one factor. We call this new function the gamma-logistic map. Our main purpose is to obtain sharp global stability conditions for the positive equilibrium of the model and to study how the stability properties of such equilibrium depend on the relevant model parameters. This study is developed by using some properties of the gamma-logistic map and some well-known results connecting stability in delay differential equations and discrete dynamical systems. Finally, we also compare the obtained results with the ones written in related articles
PB Springer Nature
SN 0924-090X
YR 2019
FD 2019-04
LK http://hdl.handle.net/10347/20701
UL http://hdl.handle.net/10347/20701
LA eng
NO Buedo-Fernández, S. Nonlinear Dyn (2019) 96: 219-227. https://doi.org/10.1007/s11071-019-04785-1
NO This is a post-peer-review, pre-copyedit version of an article published in Nonlinear Dynamics. The final authenticated version is available online at: https://doi.org/10.1007/s11071-019-04785-1
NO This research has been partially supported by Ministerio de Educación, Cultura y Deporte of Spain (grant number FPU16/04416), Consellería de Cultura, Educación e Ordenación Universitaria da Xunta de Galicia (grant numbers ED481A-2017/030, GRC2015/004 and R2016/022) and Agencia Estatal de Investigación of Spain (grant number MTM2016-75140-P, cofunded by European Community fund FEDER)
DS Minerva
RD 4 may 2026