Existence of Limit Cycles in the Solow Model with Delayed-Logistic Population Growth
This paper is devoted to the existence and stability analysis of limit cycles in a delayed mathematical model for the economy growth. Specifically the Solow model is further improved by inserting the time delay into the logistic population growth rate. Moreover, by choosing the time delay as a bifur...
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| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Wiley
2014-01-01
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| Series: | The Scientific World Journal |
| Online Access: | http://dx.doi.org/10.1155/2014/207806 |
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| Summary: | This paper is devoted to the existence and stability analysis of limit cycles in a delayed
mathematical model for the economy growth. Specifically the Solow model is further
improved by inserting the time delay into the logistic population growth rate. Moreover,
by choosing the time delay as a bifurcation parameter, we prove that the system loses its
stability and a Hopf bifurcation occurs when time delay passes through critical values.
Finally, numerical simulations are carried out for supporting the analytical results. |
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| ISSN: | 2356-6140 1537-744X |