z-logo
open-access-imgOpen Access
Closed-Form Solution for the Solow Model with Constant Migration
Author(s) -
João Plínio Juchem Neto,
Julio Cesar Ruiz Claeyssen,
Daniele Ritelli,
Giovanni Mingari Scarpello
Publication year - 2015
Publication title -
tema (são carlos)
Language(s) - English
Resource type - Journals
eISSN - 2179-8451
pISSN - 1677-1966
DOI - 10.5540/tema.2015.016.02.0147
Subject(s) - constant (computer programming) , economics , emigration , hypergeometric function , stability (learning theory) , gauss , mathematical economics , mathematics , mathematical analysis , computer science , physics , quantum mechanics , machine learning , political science , law , programming language
In this work we deal with the Solow economic growth model, when the labor force is ruled by the Malthusian law added by a constant migration rate. Considering a Cobb-Douglas production function, we prove some stability issues and find a closed-form solution for the emigration case, involving Gauss' Hypergeometric functions. In addition, we prove that, depending on the value of the emigration rate, the economy could collapse, stabilize at a constant level, or grow more slowly than the standard Solow model. Immigration also can be analyzed by the model if the Malthusian manpower is declining.

The content you want is available to Zendy users.

Already have an account? Click here to sign in.
Having issues? You can contact us here
Accelerating Research

Address

John Eccles House
Robert Robinson Avenue,
Oxford Science Park, Oxford
OX4 4GP, United Kingdom