Related papers: Growth, Poverty Trap and Escape
We characterize the outcomes of a canonical deterministic model for the intergenerational transmission of capital that features differential fertility. A fertility function determines the relationship between parental capital and the number…
We consider a class of biologically-motivated stochastic processes in which a unicellular organism divides its resources (volume or damaged proteins, in particular) symmetrically or asymmetrically between its progeny. Assuming the final…
The money market and the capital market of the Indian financial markets have a symbiotic relationship in the development of the Indian economy. The nature and the characteristics of the markets differ to a large extent as the money market…
By integrating survival analysis, machine learning algorithms, and economic interpretation, this research examines the temporal dynamics associated with attaining a 5 percent rise in purchasing power parity-adjusted GDP per capita over a…
Essential to each other, growth and exploration are jointly observed in populations, be it alive such as animals and cells or inanimate such as goods and money. But their ability to move, crucial to cope with uncertainty and optimize…
We propose a stochastic model of evolution of wealth in a society of economic agents. In the model, an agent can be in two states: inactive and active. Transitions between the states occur at random time intervals. In the active state, the…
This paper is based on the premise that economic growth is driven by an interplay between innovation and imitation in an economy composed of interacting firms operating in a stochastic environment. A novel approach to modeling imitation is…
A one-dimensional cellular automaton with a probabilistic evolution rule can generate stochastic surface growth in $(1 + 1)$ dimensions. Two such discrete models of surface growth are constructed from a probabilistic cellular automaton…
We address a novel approach for stochastic individual-based modelling of a single species population. Individuals are distinguished by their remaining lifetimes, which are regulated by the interplay between the inexorable running of time…
Two alternative views of an economy are combined and studied. The first view is that of technological evolution as a process of combinatorial innovation. Recently a simple mathematical model (TAP) was introduced to study such a…
Time series that display periodicity can be described with a Fourier expansion. In a similar vein, a recently developed formalism enables description of growth patterns with the optimal number of parameters (Elitzur et al, 2020). The method…
Continuum models for the spatial dynamics of growing cell populations have been widely used to investigate the mechanisms underpinning tissue development and tumour invasion. These models consist of nonlinear partial differential equations…
We have modeled the employment/population ratio in the largest developed countries. Our results show that the evolution of the employment rate since 1970 can be predicted with a high accuracy by a linear dependence on the logarithm of real…
We show that a steady-state stock-flow consistent macro-economic model can be represented as a Constraint Satisfaction Problem (CSP).The set of solutions is a polytope, which volume depends on the constraintsapplied and reveals the…
Civilization produces knowledge, which acts as the driving force of its development. A macro-model of civilization that accounts for the effect of knowledge production on population, energy consumption and environmental conditions is…
We consider the scaling laws, second-order statistics and entropy of the consumed energy of metropolis cities which are hybrid complex systems comprising social networks, engineering systems, agricultural output, economic activity and…
Considering the production processes, it was noted that the use of various equipment leads to an increase in output -- the phenomenon that is usually described as the substitution of labor with capital. The proposed theory of substitution…
This paper studies a discrete-time version of the Lucas-Uzawa endogenous growth model with physical and human capital in the presence of externalities. Existence of an optimal equilibrium is proved using tools from dynamic programming with…
This paper is concerned with an analysis of the dynamics of a non-autonomous, single population age based growth model with harvesting formulation. First, we derive sufficient conditions for permanence and positive invariance. Then, by…
Innovation records often exhibit "hockey-stick" patterns of abrupt, near-singular growth at the collective level. However, this macroscopic explosiveness stands in stark contrast to individual discovery, which remains bounded by cognitive…