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.
A continuous time economic growth model with time delays in environmental degradation
FERRARA, MassimilianoSupervision
;
2019-01-01
Abstract
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.File in questo prodotto:
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