Title :
A two-sector economy evolution model based on the general equilibrium and its simulation
Author :
Jia, Jianguo ; Wang, Xiaoli
Author_Institution :
Sch. of Manage., Fudan Univ., Shanghai, China
Abstract :
A macro-economic system is divided into a new and developing sector and a traditional or developed sector in the paper, a nonlinear two-sector economic system evolution model is set up. Under general equilibrium, the evolution process of this economic system is discussed, and the solution is given. It is proven to be unstable by model analysis and simulation, and a bifurcation appears in the economic variable growth path. The mid-trajectory of this bifurcation is the turnpike of the nonlinear two-sector economic system evolution process
Keywords :
bifurcation; economic cybernetics; partial differential equations; developed sector; developing sector; economic variable growth path; evolution process; general equilibrium; macro-economic system; model analysis; turnpike; two-sector economy evolution model; Analytical models; Bifurcation; Costs; Differential equations; Economic indicators; Humans; Industrial economics; Investments; Production; Remuneration;
Conference_Titel :
Intelligent Control and Automation, 2000. Proceedings of the 3rd World Congress on
Conference_Location :
Hefei
Print_ISBN :
0-7803-5995-X
DOI :
10.1109/WCICA.2000.862812
