Open AccessA Discrete Two-Sector Economic Growth Model
Author(s) -
WeiBin Zhang
Publication year - 2007
Publication title -
discrete dynamics in nature and society
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.264
H-Index - 39
eISSN - 1607-887X
pISSN - 1026-0226
DOI - 10.1155/2007/89464
Subject(s) - cobb , function (biology) , computer science , production (economics) , algorithm , mathematical economics , mathematics , economics , microeconomics , biology , genetics , evolutionary biology
This paper studies a key model in economic theory—the two-sector growth model—with an alternative utility function. We show that the system has a unique stable equilibrium when the production functions take on the Cobb-Douglas form. We also simulate the model and demonstrate effects of changes in some parameters
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