After having illustrated in Chap. 13 the Harrod’s model and a chaotic specification of it, in this Chapter we are going to prove that (1) real data could be obtained by a suitable calibration of model’s parameters, (2) the calibrated model confirms theoretical predictions (Orlando and Della...

In this work, we study the dynamics of Solow’s economic growth model assuming that the labor force growth rate function, n(t), is a solution of a delay differential equation. This approach is motivated by the fact that there are delays in entering and retiring an individual from the labor...