Existence of Limit Cycles in the Solow Model with Delayed-Logistic Population Growth

Figure 3

The time evolution of the functions 𝑘(𝑡) (dotted line) and 𝐿(𝑡) for 𝛼=0.8, 𝑠=0.5, 𝑎=0.2, 𝑏=0.5, 𝛿=0.9, and 𝜏=8 (a). The phase space of 𝐿(𝑡) versus 𝑘(𝑡) for 𝑡∈[0,1000] (b).

(a)

(b)