IJPAM: Volume 78, No. 7 (2012)

TIME DELAY IN A NEOCLASSICAL GROWTH MODEL
WITH DIFFERENTIAL SAVING

Luca Guerrini
Department of Mathematics for Economic and Social Sciences
University of Bologna
5, Viale Filopanti 5, Bologna, 40126, ITALY


Abstract. In this paper, we undertake the analysis of an extension of the one sector model of Solow-Swan with delay assuming that capital accumulation is generated by the savings behavior of two income groups with different saving propensities. The resulting model happens to have an Hopf bifurcation when the delay passes a critical value.

Received: February 26, 2012

AMS Subject Classification: 34K18, 91B62

Key Words and Phrases: solow-swan model, Kaldor-Pasinetti, delay, Hopf bifurcation

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Source: International Journal of Pure and Applied Mathematics
ISSN printed version: 1311-8080
ISSN on-line version: 1314-3395
Year: 2012
Volume: 78
Issue: 7