In this work we deal with the Solow economic growth model, when the labor force is ruled by the Malthusian law added by a constant migration rate I. Considering a Cobb-Douglas production function, we prove some stability issues and find a closed-form solution for the emigration case, involving Gauss' Hypergeometric functions. In addition, we prove that, depending on the value of the emigration rate, the economy could collapse, stabilize at a constant level, or grow more slowly than the standard Solow model. Immigration also can be analyzed by the model if the Malthusian manpower is declining.

Closed-Form Solution for the Solow Model with Constant Migration

MINGARI SCARPELLO, GIOVANNI;RITELLI, DANIELE
2015

Abstract

In this work we deal with the Solow economic growth model, when the labor force is ruled by the Malthusian law added by a constant migration rate I. Considering a Cobb-Douglas production function, we prove some stability issues and find a closed-form solution for the emigration case, involving Gauss' Hypergeometric functions. In addition, we prove that, depending on the value of the emigration rate, the economy could collapse, stabilize at a constant level, or grow more slowly than the standard Solow model. Immigration also can be analyzed by the model if the Malthusian manpower is declining.
Juchem Neto Joao Plinio; Claeyssen Julio Cesar Ruiz; Mingari Scarpello, Giovanni; Ritelli, Daniele
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11585/543297
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