The aim of this work is to analyse the interplay between economic growth and environmental quality. Specifically, the article considers an economic growth model with optimising agents a la Ramsey where production negatively affects the environment. The novelty of this work is to assume that such a negative impact does occur with a certain time lag rather than instantaneously, as is commonly assumed in economic models. The existence of (discrete) time delays in this process may be a source of instability of the unique stationary equilibrium of the system and may cause the emergence of Hopf bifurcations.
|Titolo:||A continuous time economic growth model with time delays in environmental degradation|
FERRARA, Massimiliano [Supervision]
|Data di pubblicazione:||2019|
|Appare nelle tipologie:||1.1 Articolo in rivista|