Existence of Limit Cycles in the Solow Model with Delayed-Logistic Population Growth. (28th January 2014)

• Record Type: Journal Article
• Authors: Bianca, Carlo; Guerrini, Luca
• Other Names: Agouzal A. Academic Editor.; Banaś J. Academic Editor.
• Is Part Of: TheScientificWorldjournal. Volume 2014(2014)
• Publication Date: 2014-01-28
• Subjects: Science -- Periodicals; Technology -- Periodicals; Medicine -- Periodicals; 505
• DOI: 10.1155/2014/207806
• Languages: English
• ISSNs: 2356-6140

Abstract

Abstract : 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.