HOPF-BIFURCATION AND THE EXISTENCE AND STABILITY OF CLOSED ORBITS IN MULTI-SECTOR MODELS OF OPTIMAL ECONOMIC-GROWTH

被引：173

作者：

BENHABIB, J ^{[1
]}

NISHIMURA, K ^{[1
]}

机构：

[1] TOKYO METROPOLITAN UNIV,FAC ECON,MEGURO KU,TOKYO 158,JAPAN

来源：

JOURNAL OF ECONOMIC THEORY | 1979年 / 21卷 / 03期

关键词：

D O I：

10.1016/0022-0531(79)90050-4

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

It is shown that under very general circumstances, the standard optimal growth model with two or more capital goods can give rise to optimal trajectories that are limit cycles. An example with a nonjoint production Cobb-Douglass technology giving rise to closed cycles around a unique steady state is constructed. The stability of orbits is also studied. © 1979.

引用

页码：421 / 444

页数：24

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