Academicus International Scientific Journal

Title:
Oscillations in a Growth Model with Capital, Technology and Environment with Exogenous Shocks  

Author(s):
Dr. (PhD) Wei Bin Zhang
wbz1@apu.ac.jp
College of Asia Pacific Management, Ritsumeikan Asia Pacific University, Japan
0000-0002-3012-304X

Abstract:
This paper generalizes the dynamic growth model with wealth accumulation, technological change and environmental change by Zhang (2012) by making all the parameters as time-dependent parameters. The model treats physical capital accumulation, knowledge creation and utilization, and environmental change as endogenous variables. It synthesizes the basic ideas of the neoclassical growth theory, Arrow’s learning-by-doing model and the traditional dynamic models of environmental change within a comprehensive framework. The behavior of the household is described with an alternative approach to household behavior. We simulated the model to demonstrate existence of equilibrium points, motion of the dynamic system, and oscillations due to different exogenous shocks.

Keywords:
perturbations; economic oscillations; economic growth; technological change; wealth accumulation

Full Text PDF:
Academicus-MMXV-12-073-093.pdf

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References:
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Digital Object Identifier DOI:
https://dx.medra.org/10.7336/academicus.2015.12.05


Licensing:   Creative Commons License
The article's content ©Academicus™ Oscillations in a Growth Model with Capital, Technology and Environment with Exogenous Shocks by Prof.Dr. Wei Bin Zhang is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.

Presented: April 2015
Included for Publishing: June 2015
Published: July 2015, Volume 6, Issue 12

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