全球智库信息集成服务系统(G2TT): Time-to-Build and Cycles

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/t0211
来源ID	Technical Working Paper 0211
	Time-to-Build and Cycles
	Patrick K. Asea; Paul J. Zak
发表日期	1997-05-01
出版年	1997
语种	英语
摘要	We analyze the dynamics of a simple growth model in which production occurs with a delay while new capital is installed (time-to-build). The time-to-build technology is shown to yield a system of functional (delay) differential equations with a unique steady state. We demonstrate that the steady state, though typically a saddle, may exhibit Hopf cycles on a measurable set of the parameter space. Furthermore, the optimal path to the steady state is oscillatory. A counter-example to the claim that intrinsically oscillatory on the central technical apparatus the mathematics of functional differential equations.
主题	Macroeconomics ; Business Cycles ; Microeconomics ; Mathematical Tools
URL	https://www.nber.org/papers/t0211
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/563528
推荐引用方式 GB/T 7714	Patrick K. Asea,Paul J. Zak. Time-to-Build and Cycles. 1997.