About this Journal Submit a Manuscript Table of Contents
Abstract and Applied Analysis
Volume 2013 (2013), Article ID 280925, 7 pages
http://dx.doi.org/10.1155/2013/280925
Research Article

Dynamic Properties of the Solow Model with Increasing or Decreasing Population and Time-to-Build Technology

1Department of Management, Polytechnic University of Marche, Piazza Martelli 8, 60121 Ancona, Italy
2Department of Economics and Management, University of Pisa, Via Cosimo Ridolfi 10, 56124 Pisa, Italy

Received 4 September 2013; Accepted 2 October 2013

Academic Editor: Carlo Bianca

Copyright © 2013 Luca Guerrini and Mauro Sodini. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

Abstract

We introduce a time-to-build technology in a Solow model with nonconstant population. Our analysis shows that the population dynamics may be a source of stability switches and Hopf bifurcations. The analytical results are obtained using the recent technique introduced by Beretta and Kuang (2002) in the studying of delayed differential equations with delay-dependent coefficients in characteristic equation. Numerical simulations are performed in order to illustrate the main dynamic features of the model.