Bambi, M. and Gori, Franco (2014) 'Unifying time-to-build theory.', Macroeconomic dynamics., 18 (08). pp. 1713-1725.
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.
|Full text:||(AM) Accepted Manuscript|
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|Publisher Web site:||https://doi.org/10.1017/S1365100513000102|
|Publisher 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.|
|Date accepted:||No date available|
|Date deposited:||24 September 2018|
|Date of first online publication:||04 June 2013|
|Date first made open access:||No date available|
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