A two-country dynamic Heckscher–Ohlin model with physical and human capital accumulation
✍ Scribed by Yunfang Hu; Murray C. Kemp; Koji Shimomura
- Publisher
- Springer
- Year
- 2008
- Tongue
- English
- Weight
- 200 KB
- Volume
- 41
- Category
- Article
- ISSN
- 0938-2259
No coin nor oath required. For personal study only.
📜 SIMILAR VOLUMES
In this paper, we analyze a augmented IS-LM business cycle model with the capital accumulation equation that two time delays are considered in investment processes according to Kalecki's idea. Applying stability switch criteria and Hopf bifurcation theory, we prove that time delays cause the equilib
This paper concerns the transitional dynamics of the one sector endogenous growth model with physical and human capital when gross investments are irreversible. It has been claimed that the transition path is on the stable saddle path of the system that describes the dynamics of the economy as long