Oscillations in optimal growth models
type: Item
instance of: scholarly article
title: Oscillations in optimal growth models
zbMATH Open document ID: 0657.90020
DOI: 10.1016/0165-1889(87)90009-1
author: Alfredo Medio
publication date: 1987-01-01T00:00:00Z
review text: The author discusses saddle point properties for optimal growth models. The Pontryagin maximum principle yields the well-known canonical system of differential equations which is studied by means of linearization. Necessary and sufficient conditions for local saddle point stability are given and the border case instability is discussed. In particular bifurcations for certain values of the discount rate are discussed.
Mathematics Subject Classification ID: 91B62
Mathematics Subject Classification ID: 91B50
zbMATH DE Number: 4074765
zbMATH Keywords: saddle point properties
zbMATH Keywords: optimal growth
zbMATH Keywords: Pontryagin maximum principle
zbMATH Keywords: local saddle point stability
zbMATH Keywords: border case instability
zbMATH Keywords: bifurcations
reviewed by: S. Leif Svensson
MaRDI profile type: Publication
full work available at URL: 0165-1889(87)90009-1
OpenAlex ID: W4247104011
cites work: The Hopf bifurcation and the existence and stability of closed orbits in multisector models of optimal economic growth
cites work: Stability of Equilibrium in Dynamic Models of Capital Theory
cites work: Competitive equilibrium cycles
cites work: Introduction to Hamiltonian dynamics in economics
cites work: Existence and the Cass-Shell stability condition for Hamiltonian systems of optimal growth
cites work: Existence of solutions of Hamiltonian dynamical systems of economic growth with Marxian savings hypothesis
cites work: Stability of Separable Hamiltonians and Investment Theory
published in: Journal of Economic Dynamics and Control
description: scientific article; zbMATH DE number 4074765