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Bifurcation analysis of an endogenous growth model

William Barnett () and Taniya Ghosh ()

The Journal of Economic Asymmetries, 2013, vol. 10, issue 1, 53-64

Abstract: This paper analyzes the dynamics of a variant of Jones (2002) semi-endogenous growth model within the feasible parameter space. We derive the long-run growth rate of the economy and do a detailed bifurcation analysis of the equilibrium. We show the existence of codimension-1 bifurcations (Hopf, Branch Point, Limit Point of Cycles, and Period Doubling) and codimension-2 (Bogdanov–Takens and Generalized Hopf) bifurcations within the feasible parameter range of the model.

Keywords: Bifurcation; Jones growth model; Hopf; Inference robustness; Dynamics; Stability (search for similar items in EconPapers)
Date: 2013
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Working Paper: Bifurcation Analysis of an Endogenous Growth Model (2013) Downloads
Working Paper: Bifurcation Analysis of an Endogenous Growth Model (2013) Downloads
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DOI: 10.1016/j.jeca.2013.09.003

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