In this paper,the endogenous demographic transition function is integrated into the classical Solow model. It is proven that the differential equation which describes the model at least has a nonzero equilibrium. The ...In this paper,the endogenous demographic transition function is integrated into the classical Solow model. It is proven that the differential equation which describes the model at least has a nonzero equilibrium. The differential equation has several equilibria when the technological level or the saving rate is not high enough and undergoes bifurcation at some specified parame-ter values. Therefore,the economy described by the model pre-sents multiple growth paths and ＂Malthusian Poverty Trap＂ when the technological level or the saving rate is low.展开更多
Under the CES production technology, an improved Cass Coopmans model with solvable endogenous fertility is given. We prove that there are multiple growth paths and multiple steady states when CES 0<σ<1 ...Under the CES production technology, an improved Cass Coopmans model with solvable endogenous fertility is given. We prove that there are multiple growth paths and multiple steady states when CES 0<σ<1 and the technology level is high enough; the growth path and the steady state is unique when σ>1 and the ratio of capital is smaller than a constant. So, the dynamic system which describes the model undergoes a bifurcation when σ=1 . We discuss the economic sense of the main results we give.展开更多
基金Supported by the National Natural Science Foundation of China (70871094)the Humanities and Social Sciences Research Item of Ministry of Education of China (09YJA790155)
文摘In this paper,the endogenous demographic transition function is integrated into the classical Solow model. It is proven that the differential equation which describes the model at least has a nonzero equilibrium. The differential equation has several equilibria when the technological level or the saving rate is not high enough and undergoes bifurcation at some specified parame-ter values. Therefore,the economy described by the model pre-sents multiple growth paths and ＂Malthusian Poverty Trap＂ when the technological level or the saving rate is low.
文摘Under the CES production technology, an improved Cass Coopmans model with solvable endogenous fertility is given. We prove that there are multiple growth paths and multiple steady states when CES 0<σ<1 and the technology level is high enough; the growth path and the steady state is unique when σ>1 and the ratio of capital is smaller than a constant. So, the dynamic system which describes the model undergoes a bifurcation when σ=1 . We discuss the economic sense of the main results we give.
