Abstract
The local and global stability of multisector optimal growth models has been extensively studied in the recent literature. Brock and Scheinkman (1976), Cass and Shell (1976), McKenzie (1976), and Scheinkman (1976) have established strong results about global stability that require a small rate of discount. Burmeister and Graham (1973), Araujo and Scheinkman (1977), Magill (1977), and Scheinkman (1978) have established conditions that yield stability conditions independently of the rate of discount.
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CITATION STYLE
Benhabib, J., & Nishimura, K. (2012). The hopf bifurcation and existence and stability of closed orbits in multisector models of optimal economic growth. In Nonlinear Dynamics in Equilibrium Models: Chaos, Cycles and Indeterminacy (pp. 51–73). Springer Berlin Heidelberg. https://doi.org/10.1007/978-3-642-22397-6_3
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