(a) Number of employed workers for = 1.57176
(b) Capital stock evolution for = 1.57176
(c) Number of employed workers for = 1.570796
(d) Capital stock evolution for = 1.570796

Figure 2: For , an unstable periodic solution bifurcates from the positive equilibrium: (a and b) for , existence of bifurcating periodic solution and (c and d), for , absence of bifurcating periodic solution (see Theorem 3).