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Unifying Time-to-build theory

Bambi, M.; Gori, Franco

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Authors

Franco Gori



Abstract

Discrete-time and continuous-time models with time to build do not possess the same dimension. In this paper we address the dimensionality issue by revising the way time to build is traditionally measured when transforming the economic dynamics from discrete to continuous time. We propose our new procedure as an alternative approach which allows for a unifying theory of the two classes of economic growth models. Interestingly enough, discrete-time models admit a change in stability for a value of the time-to-build parameter where their continuous counterpart admits an Hopf bifurcation.

Citation

Bambi, M., & Gori, F. (2014). Unifying Time-to-build theory. Macroeconomic Dynamics, 18(08), 1713-1725. https://doi.org/10.1017/s1365100513000102

Journal Article Type Article
Online Publication Date Jun 4, 2013
Publication Date Dec 1, 2014
Deposit Date Aug 2, 2018
Publicly Available Date Mar 29, 2024
Journal Macroeconomic Dynamics
Print ISSN 1365-1005
Electronic ISSN 1469-8056
Publisher Cambridge University Press
Peer Reviewed Peer Reviewed
Volume 18
Issue 08
Pages 1713-1725
DOI https://doi.org/10.1017/s1365100513000102
Public URL https://durham-repository.worktribe.com/output/1324700

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Copyright Statement
This article has been published in a revised form in Macroeconomic Dynamics https://doi.org/10.1017/S1365100513000102. This version is free to view and download for private research and study only. Not for re-distribution, re-sale or use in derivative works. © Cambridge University Press 2013.





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