In this paper the neo-classical economic Solow-Swan model (1956) has been improved replacing its Malthusian manpower law with the Verhulst (logistic) one. The relevant ordinary differential equation for the ratio capital/work has been then integrated in closed form via the Hypergeometric function 2F1. The logistic growth injection for the manpower is detected to induce a more slow dynamics onto the Solow-Swan system, which keeps its stability. Increasing developments are displayed as the technologic progress rises. Further sceneries are tested and the congruence of the new solution with the classical one is shown switching to zero the selflimitation coefficent in the logistic law. © 2003 Università degli Studi di Ferrara.
The Solow model improved through the logistic manpower growth law / Scarpello G.M.; Ritelli D.. - In: ANNALI DELL'UNIVERSITÀ DI FERRARA. SEZIONE 7: SCIENZE MATEMATICHE. - ISSN 0430-3202. - STAMPA. - 49:1(2003), pp. 73-83. [10.1007/BF02844911]
The Solow model improved through the logistic manpower growth law
Ritelli D.
Membro del Collaboration Group
2003
Abstract
In this paper the neo-classical economic Solow-Swan model (1956) has been improved replacing its Malthusian manpower law with the Verhulst (logistic) one. The relevant ordinary differential equation for the ratio capital/work has been then integrated in closed form via the Hypergeometric function 2F1. The logistic growth injection for the manpower is detected to induce a more slow dynamics onto the Solow-Swan system, which keeps its stability. Increasing developments are displayed as the technologic progress rises. Further sceneries are tested and the congruence of the new solution with the classical one is shown switching to zero the selflimitation coefficent in the logistic law. © 2003 Università degli Studi di Ferrara.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
