Thursday, 14:15 - 14:40 h, Room: H 3027

 

Nasser-Eddine Tatar
Asymptotic stability for the endogenous Solow model with discrete and distributed delays

 

Abstract:
In the original Solow growth theory it is assumed that the rate of change of the labour supply is exogenous. This theory has serious limitations (failure to tale account of entrepreneurships and strength institutions and failure to explain technological progress) which lead to the development of endogenous growth theories. These theories support that long-run economic growth depends on forces internal to
the economic system which create technological progress.
In this talk we consider a (more realistic) Solow model where the labour supply depends on the past levels of wage. We discuss both the discrete delay case and the distributed delay case. This latter model is known as the Vintage Capital Model and is widely used in economy. We shall establish some reasonable assumptions under which the economy converges to a steady-state rate of growth.

 

Talk 3 of the invited session Thu.2.H 3027
"Optimization and economic applications" [...]
Cluster 7
"Finance & economics" [...]

 

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