Time fractional capital-induced labor migration model

Mehmet Ali Balcı

Physica A: Statistical Mechanics and its Applications, 2017, vol. 477, issue C, 91-98

Abstract: In this study we present a new model of neoclassical economic growth by considering that workers move from regions with lower density of capital to regions with higher density of capital. Since the labor migration and capital flow involves self-similarities in long range time, we use the fractional order derivatives for the time variable. To solve this model we proposed Variational Iteration Method, and studied numerically labor migration flow data from Turkey along with other countries throughout the period of 1966–2014.

Keywords: Economical growth model; Fractional calculus; Variational Iteration Method; Statistical application (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:phsmap:v:477:y:2017:i:c:p:91-98

DOI: 10.1016/j.physa.2017.02.032

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