Author:
Juchem Neto João Plínio,Claeyssen Julio Cesar Ruiz,Ritelli Daniele,Scarpello Giovanni Mingari
Abstract
This paper considers a Solow-Swan economic growth model with the labor force ruled by the logistic equation added by a constant migration rate, I. We prove the global asymptotic stability of the capital and production per capita. Considering a Cobb-Douglas production function, we show this model to have a closed-form solution, which is expressed in terms of the Beta and Appell F1 special functions. We also show, through simulations, that if I>0, it implies in a smaller capital and product per capita in the short term, but in a higher capital and product per capita in the middle and long terms. In both cases, these per capita variables converge to the same steady-state given by the model without migration. If I<0 the transient behavior is the opposite. Finally, if I=0, we recover the solution for the pure logistic case, involving Gauss' Hypergeometric Function 2F1.
Publisher
Universidad Federal de Santa Maria
Cited by
1 articles.
订阅此论文施引文献
订阅此论文施引文献,注册后可以免费订阅5篇论文的施引文献,订阅后可以查看论文全部施引文献