Stability of Growth Models with Generalised Lag Structures
This paper considers the lag structures of dynamic models in economics, arguing that the standard approach is too simple to capture the complexity of actual lag structures arising, for example, from production and investment decisions. It is argued that recent (1990s) developments in the the theory of functional differential equations provide a means to analyse models with generalised lag structures. The stability and asymptotic stability of two growth models with generalised lag structures are analysed. The paper concludes with some speculative discussion of time-varying parameters.
Year of publication: |
2011-06-20
|
---|---|
Authors: | George, Donald A R |
Institutions: | School of Economics, University of Edinburgh |
Saved in:
freely available
Saved in favorites
Similar items by person
-
A Model of Endogenous Quality Management
George, Donald A R, (1998)
-
Money and inflation in a nonlinear model
George, Donald A R, (2007)
-
George, Donald A R, (2004)
- More ...