This paper is devoted to the existence and stability analysis of limit cycles in a delayed mathematical model for the economy growth. Specifically the Solow model is further improved by inserting the time delay into the logistic population growth rate. Moreover, by choosing the time delay as a bifurcation parameter, we prove that the system loses its stability and a Hopf bifurcation occurs when...

In aggregate unadjusted data, measured Solow residuals exhibit large seasonal variations. Total Factor Productivity grows rapidly in the fourth quarter at an annual rate of 16 percent and regresses sharply in the ...rst quarter at an annual rate of ¡24 percent. This paper considers two potential explanations for the measured seasonal variation in the Solow residual: labor hoarding and increasin...

ing from money, meaning everything is denominated in units of goods, e.g. fruit). Total cost is the wage bill plus the capital bill. Let wt be the real wage rate – it is the number of goods the firm must pay each unit of labor. Let Rt be the real “rental rate” – it is the number of goods the firm must give up to lease a unit of capital. The firm is a price-taker, so it takes these as given. Pro...

Department of Law and Economics, University Mediterranea of Reggio Calabria Via dei Bianchi 2 (Palazzo Zani), 89127 Reggio Calabria, Italy [email protected] Department of Management, Polytechnic University of Marche Piazza Martelli 8, 60121 Ancona, Italy [email protected] Department of Economics and Management, University of Pisa Via Cosimo Ridolfi 10, 56124 Pisa, Italy m.sodi...